CP Board Member Edward Monser Will Not Stand For Re-election

Rhea-AI Summary

Canadian Pacific Railway Limited (TSX: CP) announced that Edward L. Monser will not seek re-election as a director at the upcoming Annual and Special Meeting on April 27, 2022. Monser, who joined the board in December 2018, expressed pride in his contributions during CP's acquisition of Kansas City Southern, a milestone aimed at uniting rail connections across Canada, the U.S., and Mexico. Board Chair Isabelle Courville recognized Monser's significant impact and thanked him for his service.

Positive

• Monser's leadership contributed to the historic acquisition of Kansas City Southern, enhancing CP's market position in North America.
• His departure allows for potential new perspectives on the board, which could benefit strategic initiatives.

Negative

• Concerns about continuity in leadership may arise with Monser's exit as crucial decisions regarding recent acquisitions unfold.

CALGARY, AB, Feb. 2, 2022 /PRNewswire/ - Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) said today that Edward L. Monser has announced he will not be standing for re-election as a director at the Canadian Pacific Annual and Special Meeting scheduled for April 27, 2022.

Mr. Monser stated: "It has been a pleasure to serve on the Board of Canadian Pacific since December 2018. I take great personal pride in having been part of the CP Board during its battle to acquire Kansas City Southern in order to create the first ever railroad connecting Canada, the United States and Mexico. It has been an honour to work with the CP Board and its executive team in helping to achieve this truly historic business combination which will, subject to approval by the Surface Transportation Board, bring great value and competitive options to markets in all three countries. Although due to personal and professional commitments I will not be able to continue on with CP in this historic journey, I wish the CP Board and management every success."

CP Board Chair Isabelle Courville said, "Ed has made a formidable contribution to the CP Board during his tenure. We thank him for his years of service and we wish him all the best in his future endeavours."

About Canadian Pacific
Canadian Pacific is a transcontinental railway in Canada and the United States with direct links to major ports on the west and east coasts. CP provides North American customers a competitive rail service with access to key markets in every corner of the globe. CP is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of CP. CP-IR

View original content:https://www.prnewswire.com/news-releases/cp-board-member-edward-monser-will-not-stand-for-re-election-301473411.html

SOURCE Canadian Pacific

FAQ

Why is Edward L. Monser not standing for re-election with Canadian Pacific?

Edward L. Monser has cited personal and professional commitments as the reason for not seeking re-election.

What impact could Monser's departure have on Canadian Pacific?

Monser's exit may create concerns about continuity in leadership during a critical acquisition phase.

When is the Canadian Pacific Annual and Special Meeting?

The Annual and Special Meeting is scheduled for April 27, 2022.

How long did Monser serve on the Canadian Pacific board?

Monser served on the Canadian Pacific board since December 2018.

What is the significance of the Kansas City Southern acquisition for Canadian Pacific?

The acquisition aims to create the first transcontinental railway linking Canada, the U.S., and Mexico, potentially increasing market competitiveness.