CN (NYSE: CNI) will have a new "engineer" at the head of its corporate train. The carrier announced today that President and Chief Executive Officer Claude Mongeau will step down from his role leading CN at the end of June.
A release out Tuesday morning pointed out that Mongeau joined CN 22 years ago, was its Chief Financial Officer for 11 years, and CEO for the last six and a half years. "He has been," the release went on, "one of the key architects of CN's remarkable business transformation from the early days towards the company's Initial Public Offering in 1995, to its successful expansion as a leading North American railway today."
CN's directors today unanimously appointed Luc Jobin as President and CEO and a member of the CN Board effective as of July 1.
Shares in CN eased 14 cents in early Tuesday trading to $77.29 in Toronto, within a 52-week trading range of $66.62 to $83.81.
