Cn rail fires president

Commodity Marketing


Cn rail fires president

Mar 5, 2018 | 07:10 1 News just out over the wires at 6:45. They might be listening to their customers??? Nah...

MONTREAL, March 05, 2018 (GLOBE NEWSWIRE) -- The Board of Directors of CN (TSX:CNR) (NYSE:CNI) announced today that Luc Jobin is leaving CN effective immediately.

The Board has appointed Jean-Jacques Ruest Interim President and Chief Executive Officer until a permanent replacement is in place. Mr. Ruest has been with the company for twenty-two years, the last eight as Executive Vice-President and Chief Marketing Officer.

“The Board believes the company needs a leader who will energize the team, realize CN’s corporate vision and take the company forward with the speed and determination CN is known for,” said Board Chairman Robert Pace. “Mr. Ruest is well known to customers and investors, and is well positioned to focus the company and its very experienced and proven team of railroaders to rapidly address operational challenges during the transition.”

The Board believes that in an increasingly competitive marketplace, CN must respond with speed and innovation to retain its leadership position. The Board also recognizes the immediate operational and customer service challenges the company has been facing since Fall 2017 - led by high demand and insufficient network resiliency, coupled with severe winter weather conditions.

“CN must accelerate execution of the innovation strategy articulated at our Investor Day last June,” said Mr. Pace. “The Board is confident this remains the right course to restore and retain industry-leading metrics and best in class customer service.”

An international search for a new CEO is underway.

Thank you,
CN Corporate Marketing

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Last edited by Crestliner; Mar 5, 2018 at 10:06.
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Mar 5, 2018 | 07:22 2 What would you expect when the minister of transport had been talking to him and saying things would be getting better.....must have forgot to send the brown paper bag....

The bill is still in the Senate, you don't make promises when trying to blackmail the government to change a bill....


Besides this will buy them some time for being unwilling to move the crop....

And it's not about customers it's about shareholders. ...never mind the mess he inherited by two previous CEOs that claimed high productivity....

In another note CN disputes the ATC report....well of course they do.

Because someone forgot to put transparent reporting in the new market environment in 2012....

The ATC report should include the vessel lineup....55 boats and the only port open is Vancouver. .
Last edited by bucket; Mar 5, 2018 at 07:45.
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Mar 5, 2018 | 08:12 3 When someone lists the facts it's clearly a gong show for us customers.
Maybe if someone explained to our government that if we made more money there would be more carbon tax things might move. But then again more activity would discredit that more carbon tax lowers activity? Why would anyone want to lower business activity? Oh ya for the environment?
So that we can all go out of business and then countries that pollute hundreds of times the amount we do could grow crop and then we could import food? Oh ya we already do that too.

Wtf is the goal here? Reply With Quote
farmaholic's Avatar Mar 5, 2018 | 09:20 4 Too Bad Hunter Harrison is playing trains in the afterlife somewhere,..... notice I never said heaven. Maybe he could straighten things out. Reply With Quote
Mar 5, 2018 | 19:42 5
Quote Originally Posted by farmaholic View Post
Too Bad Hunter Harrison is playing trains in the afterlife somewhere,..... notice I never said heaven. Maybe he could straighten things out.

Every leader has their time to bask, Hunter Harrison came in when railroads needed to focus on efficiency, and he did. Railways were well rewarded for the slash and burn approach and for a time it worked very well, but like agriculture railways are an asset based business: to grow you need to reinvest. I am not convinced they have reinvested in a manner that serves the product direction and train size they now pull especially with oil traffic coming on. To me it looks like when we expand a farm, for a while you can get by with existing equipment then you get a year like the last few harvests and find out, that you need more iron to be efficient.

I am not a railroader at all but from an outward looking perspective this is what I see: they need more power, east and west traffic creates revenue but also more bottle necks, with this you need more crews, and more investment in infrastructure more passing lanes so trains can use lines efficiently. And if nothing has changed recently, they likely also need to take a look at HR: how they look after their people.

My 2 cents.

And grain needs legislation that insures we cannot AGAIN & AGAIN be the pawn in railways deciding which payload gets preference, agriculture is far to competitive for Canadian logistics not to be efficient. Reply With Quote