CALGARY, Alta.–Canadian Pacific Railway Limited announced that CP’s Board of Directors has reached an agreement with CP’s next chief executive officer, Keith Creel. Currently president and chief operating officer, Creel will become president and CEO on July 1, 2017.
“Keith is a tremendous railroader who is more than ready to take the helm as our next CEO,” said Andrew F. Reardon, Chairman of the Board. “Since joining the company in 2013, Keith has continued to demonstrate to the CP Board and all of our stakeholders his considerable leadership abilities and capacity to lead this organization into the future. Keith and the entire CP team have benefited greatly from Hunter’s leadership and the Board recognizes that we are well-positioned for the future.”
Creel was appointed president and chief operating officer in February, 2013 and joined the CP Board in May of 2015. Creel previously served as the executive vice president and chief operating officer of Canadian National Railway Company.
“I have known and worked with Keith for more than 20 years,” said E. Hunter Harrison, CP CEO. “He is one of the strongest operating executives I have ever met in this business and I know he will do a fantastic job leading CP after my retirement. I look forward to supporting him as we continue to transition over the next year.”
CP also announced that it has reached a three-year, post-retirement consulting agreement with Harrison.
“We are absolutely thrilled that Hunter has agreed to continue in a supporting advisory capacity after he retires at the end of June 2017,” Reardon said. “Having the greatest railroader in history available to the organization and the Board brings countless benefits. Hunter led the historic turnaround of the Company, and we are more than fortunate that he has agreed to continue his relationship with us for three-years post his retirement.”
Harrison joined CP as CEO in June 2012, and possesses more than 50 years of railroad experience.
“I’ve demonstrated my trouble with retiring in the past, so being available to the Board and the organization after my official retirement is exciting,” Harrison said. “In four years we have gone from an industry laggard to an industry leader. I look forward to assisting Keith, the executive team and the Board in any manner requested as they continue to write the CP story.”