Canadian Pacific Railway Ltd. (TSE:CP) reported lower second-quarter earnings on Wednesday as volumes dropped, and said its chief executive officer will step down next July but remain in as an adviser.
As long expected, the railway said President and Chief Operating Officer Keith Creel will succeed Hunter Harrison, who said in 2014 that he would retire in 2017. He has signed a three-year consulting agreement.
Canada’s No. 2 railway said weak commodity volumes, the wildfire in northern Alberta and a stronger Canadian dollar reduced revenue in the quarter.
Read the full article at: ca.finance.yahoo.com