CALGARY, Jan. 27, 2016 /CNW/ - Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) today announced that Matthew H. Paull has been appointed to the CP Board of Directors effective immediately, replacing Paul Hilal, who has resigned from the board.
Mr. Hilal, who was Chair of the Management Resources and Compensation Committee and member of the Finance Committee, joined the board in 2012. Mr. Hilal's departure from CP coincides with his resignation from Pershing Square Capital Management, L.P.
"I would like to thank Paul for his valuable contributions to the Board since joining in 2012. Not only was he a key catalyst for change at CP, but his relentless energy and thoughtful leadership has continued to help guide the positive transformation of the company," said Andrew F. Reardon, Chairman of the Board. "We wish him well in his future endeavors."
"Paul was the visionary who first recognized that CP was a good railroad that could become great with the right team and right plan in place," said E. Hunter Harrison, CP Chief Executive Officer. "We thank him for his tireless service on behalf of CP's shareholders and his dedication to the board."
Mr. Paull joins the CP board after a career spent in senior financial roles. He was Senior Executive Vice President and Chief Financial Officer of McDonald's Corp. from 2001 until he retired in 2008. Prior to joining McDonald's in 1993, Mr. Paull was a partner at Ernst & Young where he managed a variety of financial practices during his 18-year career.
He served as a director and a member of the Audit Committee of Best Buy Co. from 2003 through 2013, as its Lead Independent Director from 2010 through 2013, and also served as Chairman of its Finance and Investment Policy Committee. Mr. Paull has served as a director of Air Products & Chemicals Corp. since 2013, where he now chairs the Audit and Finance Committee, and as a director of KapStone Paper and Packaging Corp. since 2010. Mr. Paull also serves as an advisory director of Pershing Square Capital Management and The One Acre Fund.
"Matthew brings a valuable breadth of experience at the executive and board levels that will have an immediate positive impact on CP's board," Mr. Reardon said. "We welcome him to CP and look forward to working with him on behalf of all CP shareholders."
Mr. Paull will chair the Board of Directors' Audit Committee.
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 growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of Canadian Pacific.
SOURCE Canadian Pacific