CALGARY, Nov. 29, 2013 /CNW/ - Canadian Pacific (TSX:CP) (NYSE: CP) today
announced that Bart Demosky has been appointed Executive Vice-President
and Chief Financial Officer (CFO) effective December 28, 2013. On
October 23, 2013, CP announced that Brian Grassby would retire as the
company's Senior Vice-President and Chief Financial Officer at
Demosky joins CP from Suncor Energy where he had been Chief Financial
Officer since 2009. His career at Suncor began in 2006 when he was
appointed vice president and treasurer. In 2008 Demosky was appointed
Senior Vice-President Business Services. Demosky brings to CP over 25
years of senior financial, strategic, operations and risk management
"Our search for a new CFO began when Brian informed us of his decision
to retire at the end of the year," said E. Hunter Harrison, CP's Chief
Executive Officer. "This was the most comprehensive North American CFO
search process in my career, as management and the Board recognized the
importance of bringing in someone with the breadth of business
experience and financial talent required to help lead this organization
forward. In Bart Demosky, we believe we have found that individual.
Bart is arguably one of the top CFO's in Canadian business and we are
thrilled that he will be joining our team."
"I would also like to thank Brian for his years of dedicated service to
CP and wish him all the best in retirement," added Harrison.
"The transformation of CP, one of Canada's most iconic organizations, is
without question one of the most successful turnaround stories in
Canadian history," said Demosky. "I am honoured and excited by this
opportunity to work along-side Hunter Harrison and the CP team and lead
the finance organization as we continue the incredible progress that
has already begun."
As CP's executive vice-president and CFO, Demosky will be a key member
of the senior management team responsible for helping plan the
long-term strategic direction of the company. Other responsibilities
will include financial planning, reporting and accounting systems as
well as pension, treasury and tax. Demosky holds a bachelor's degree in
economics from the University of Calgary and is an honours graduate
from the University of Calgary's Management Development Program.
About Canadian Pacific
Canadian Pacific (TSX:CP)(NYSE: CP) is a transcontinental railway in
Canada and the United States with direct links to eight major ports,
including Vancouver and Montreal, providing North American customers a
competitive rail service with access to key markets in every corner of
the globe. CP is a low-cost provider that is growing with its
customers, offering a suite of freight transportation services,
logistics solutions and supply chain expertise. Visit www.cpr.ca to see the rail advantages of Canadian Pacific.
SOURCE: Canadian Pacific
For further information:
24/7 Media Pager: 855-242-3674