Chief financial officer steps down at Canadian Pacific Railway after 16 months
CALGARY – Canadian Pacific Railway’s chief financial officer is stepping down just 16 months after he was appointed.
The Calgary-based company says that Mark Erceg’s last day will be Friday and that he will be returning to the U.S. to take on a new job as CFO of an unnamed American company listed on the New York Stock Exchange.
Canadian Pacific (TSX:CP) says that Nadeem Velani, vice-president of investor relations, has been named interim chief financial officer.
Erceg came to the railway in May 2015 from doormaker Masonite International Corp. where he had acted as CFO since 2010.
On Tuesday, CP announced that Bill Ackman would be resigning as a director after four years. The American activist investor sparked a company turnaround that included the hiring of retired Canadian National Railway executive Hunter Harrison as CEO.
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