CP saddened by passing of former executive and board member William R. Fatt

Rhea-AI Summary

Canadian Pacific Railway Limited (CP) expresses deep sadness over the passing of former executive and board member William R. (Bill) Fatt on August 4, 2020. Fatt served on the board since September 2016 and was previously CP's Chief Financial Officer. Known for his strong business acumen, he notably led Canadian Pacific Hotels before its transition to Fairmont Hotels & Resorts. CP's CEO Keith Creel acknowledged Fatt's invaluable contributions and risk-taking spirit, while the board chair highlighted the lasting impact of his leadership on the company.

Positive

• Bill Fatt's extensive experience and leadership contributed to significant company successes.
• His tenure as Chief Financial Officer strengthened CP's financial foundations.

Negative

• Fatt's resignation from the board in November 2017 due to health reasons indicates potential challenges in leadership continuity.

CALGARY, AB, Aug. 4, 2020 /PRNewswire/ - Canadian Pacific Railway Limited (CP) (TSX: CP) (NYSE: CP) is deeply saddened to learn of the passing of former executive and board member William R. (Bill) Fatt.

"Bill Fatt was a consummate business leader, with the background, financial knowledge and overall gravitas to take on big challenges and turn them into successes," said Keith Creel, CP President and Chief Executive Officer. "He was not afraid to take risks and learn from his successes and mistakes. Bill's advice and counsel were invaluable to so many and he will be sincerely missed."

Mr. Fatt joined the CP board in September 2016. He served as Chair of the Finance Committee and a member of the Audit Committee before resigning for health reasons in November 2017. Earlier in his career, he served as CP's Chief Financial Officer before taking the helm of Canadian Pacific Hotels and eventually moving the company's properties to the Fairmont Hotels & Resorts banner.

"As Chief Financial Officer at CP, Chairman and Chief Executive Officer at Canadian Pacific Hotels, and a board member at CP, Mr. Fatt made significant contributions to businesses that continue to impact many people," said Isabelle Courville, Chair of CP's Board of Directors. "I am sure I can speak for all who have worked with Bill when I say we are fortunate to have had the opportunity to know him."

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 with 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

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SOURCE Canadian Pacific

FAQ

What impact did Bill Fatt have on Canadian Pacific Railway?

Bill Fatt significantly influenced CP through his roles as CFO and board member, contributing to its financial strategy and operations.

Why did Bill Fatt resign from CP's board?

Fatt resigned from the board in November 2017 for health reasons.

When did Bill Fatt join the CP board?

Bill Fatt joined the Canadian Pacific Railway board in September 2016.

Who acknowledged Bill Fatt's contributions at CP?

CP's President and CEO Keith Creel and Board Chair Isabelle Courville both paid tribute to Bill Fatt's contributions.

What was Bill Fatt's role at Canadian Pacific Hotels?

Bill Fatt served as Chairman and Chief Executive Officer at Canadian Pacific Hotels before its integration with Fairmont Hotels & Resorts.