Montreal — Canadian National Railway Co. says that Jean-Jacques Ruest is now officially its president and chief executive — a role that he has held on an interim basis since March.
Ruest was given the job of dealing with a number of operational and customer service challenges when he was installed to replace Luc Jobin as CEO of Canada’s largest railway company.
In October, CN said it didn’t have enough crews to handle increased demand prompted by a stronger North American economy.
In March, CN chairman Robert Pace announced that Jobin was gone and Ruest had the job on an interim basis while the company conducted a global search.
On Tuesday, Pace said that Ruest was the best choice and added that he has brought “vision, energy and speed” to his new role.
Ruest, 63, has been with Canadian National for 22 years, including eight as its chief marketing officer.
The appointment was announced a few hours before Canadian National was scheduled to release its financial results for the second quarter ended June 30.
Analysts are estimating CN’s revenue will rise to $3.58 billion, from $3.22 billion in the second quarter of 2017 and from $3.19 billion in the first quarter of 2018, according to Thomson Reuters Eikon.
They estimate net income at $1.37 per share and adjusted earnings of $1.39 per share.