Canadian National has named former Canadian Pacific executive Tracy Robinson as its new president and CEO and reached an agreement with activist investor TCI Fund Management, which has dropped its proxy contest.
Robinson spent nearly three decades at CP — with experience including positions in operations, finance, and marketing — before joining TC Energy, a Canadian pipeline company, in 2014. She will take over for retiring CN CEO JJ Ruest in February.
“This is a transformational period at CN, and I couldn’t be more excited about the opportunities ahead,” Robinson said in a statement.
“Our focus is on building the railway of the future — one that creates shareholder value by meeting the needs of our customers, employees, communities, and the economies that depend on us, safely, reliably, and efficiently.
I look forward to working closely with CN’s extremely talented railroaders, board, and management team as we take CN to the next level of performance and industry leadership.”
“She knows the railroad, she knows the network, she knows the competition, she knows CN, she’s passionate about railroading,” Ruest told investors and analysts on the company’s earnings call.
“In my view, she’s a railroader,” Ruest added.
Robinson’s experience in the energy industry will help CN tap into the ongoing energy boom in Western Canada, including the development of hydrogen and growth in the petrochemical sector, Ruest said.
For more information visit www.cn.ca