CN Provides Update on CEO Search Process
December 20 2021 - 6:00AM
CN (TSX: CNR) (NYSE: CNI) today provided an update on the
previously announced search process to identify a new Chief
Executive Officer.
The Search Committee of the Board – comprised of
Shauneen Bruder, Justin Howell, Robert Phillips and Kevin Lynch –
is conducting a thorough review process to identify a world-class
executive to lead CN as the Company continues to build the railway
of the future using digital innovation to drive safety, operational
excellence, customer experience and enhanced long-term shareholder
value. The Search Committee, with the assistance of Korn Ferry, has
identified and continues to interview a number of outstanding
candidates. CN expects to complete the process and announce a new
CEO in January 2022.
As part of this open and inclusive process, the
Search Committee conducted multiple rounds of interviews with
former CN employee Jim Vena and the Board engaged in appropriate
due diligence with respect to Mr. Vena’s candidacy, as it has with
all other candidates. Last evening, Mr. Vena notified the Board
that he is no longer interested in pursuing the role and has
withdrawn from the process.
CN has only provided an update on this search
process because TCI has requisitioned a Special Meeting of
Shareholders on March 22, 2022 with one goal being to have Mr. Vena
appointed CEO of CN. CN previously disclosed to shareholders that
Mr. Vena would be seriously considered for the position. Since Mr.
Vena is no longer being considered for this position, CN believed
it was appropriate to provide shareholders with an update.
CN’s Board remains committed to finding the
right leader to continue our ambitions to build the premier railway
for the 21st century and deliver immediate and long-term value to
all shareholders, while retaining our commitment to safety,
customer service and the communities we serve.
About CNCN is a world-class
transportation leader and trade-enabler. Essential to the economy,
to the customers, and to the communities it serves, CN safely
transports more than 300 million tons of natural resources,
manufactured products, and finished goods throughout North America
every year. As the only railroad connecting Canada’s Eastern and
Western coasts with the Southern tip of the U.S. through a
19,500-mile rail network, CN and its affiliates have been
contributing to community prosperity and sustainable trade since
1919. CN is committed to programs supporting social responsibility
and environmental stewardship.
Contacts:
Media |
Investors |
CanadaJonathan
AbecassisSenior Manager, Media Relations (438)
455-3692media@cn.ca |
Paul
ButcherVice-PresidentInvestor Relations(514)
399-0052investor.relations@cn.ca |
Longview Communications &
Public AffairsMartin Cej(403) 512-5730mcej@longviewcomms.ca |
|
United
StatesBrunswick GroupJonathan Doorley / Rebecca Kral(917)
459-0419 / (917)
818-9002jdoorley@brunswickgroup.comrkral@brunswickgroup.com |
|
Canadian National Railway (TSX:CNR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Canadian National Railway (TSX:CNR)
Historical Stock Chart
From Apr 2023 to Apr 2024