CALGARY - Canadian Pacific Railway (TSX:CP) has named Hunter Harrison as its new president and chief executive officer, the result of reforms pushed through by the company's largest shareholder.
Harrison's appointment was widely expected after a high-profile battle waged against the Calgary-based railway's former leadership by William Ackman, head of a New York-based investment fund.
Harrison is the former CEO of Canadian National Railway (TSX:CNR).
He is credited with turning CN into North America's most successful railway company — a track record that Ackerman says is needed at Canadian Pacific.
Ackman's Pershing Square became the largest shareholder of Canadian Pacific last year, beginning months of battles that resulted in the departure of the railway's chief executive, its chairman and several directors.
Note to readers: This is a corrected story. An earlier version misspelled Ackman.