CPKC

Ancora Issues Letter to Fellow Shareholders Regarding Norfolk Southern’s Failures of Diligence and Poor Judgment in Appointing John Orr as COO

Retrieved on: 
Friday, April 5, 2024
Professional Services, Insurance, Finance, Asset Management, Consulting, Banking, Letter, Exercise, Canadian Pacific Railway, Precision, History, Transport, Disclosure, Surface Transportation Board, KCS, Road, Workplace, Employment, CPKC, Risk, Woman, CSX, Illinois Central Railroad, Safety, CSX Corporation, Depression, Canadian National Railway, EVP, PSR, Meridian Speedway, NSC, Annual general meeting, Weakness, Female, Behavior, Verbal abuse, Security (finance)

Ohio-based Ancora Holdings Group, LLC (collectively with its affiliates, “Ancora” or “we”), which owns a large equity stake in Norfolk Southern Corporation (NYSE: NSC) (“Norfolk Southern” or the “Company”), today issued the below letter to fellow shareholders regarding the Board of Directors’ (the “Board”) apparent failures of diligence and poor judgment in appointing John Orr as COO.

Key Points: 
  • Ohio-based Ancora Holdings Group, LLC (collectively with its affiliates, “Ancora” or “we”), which owns a large equity stake in Norfolk Southern Corporation (NYSE: NSC) (“Norfolk Southern” or the “Company”), today issued the below letter to fellow shareholders regarding the Board of Directors’ (the “Board”) apparent failures of diligence and poor judgment in appointing John Orr as COO.
  • Ancora is a sizable shareholder of Norfolk Southern, meaning our interests and your interests are squarely aligned.
  • The Board and Mr. Shaw provided CPKC with excessive financial and strategic consideration that weakens Norfolk Southern’s long-term competitive positioning.
  • Norfolk Southern operated from a position of desperation, and shareholders and other stakeholders now stand to pay a steep price.

Ancora Details Serious Governance, Process and Competition-Related Issues Stemming from Norfolk Southern’s Appointment of John Orr as COO

Retrieved on: 
Wednesday, March 20, 2024
Rail, Professional Services, Transport, Finance, Employment, EVP, Canadian Pacific Railway, CPKC, Partnership, CSX, PSR, Meridian Speedway, Norfolk Southern Railway, NSC, Management

This decision was also made after the Board became aware of publicly filed legal actions involving Mr. Orr.

Key Points: 
  • This decision was also made after the Board became aware of publicly filed legal actions involving Mr. Orr.
  • Mr. Orr, who was hastily hired without a broad search and lacks Eastern railroad experience, does not appear to be the best available executive to implement PSR principles and help transform Norfolk Southern’s network.
  • Much to our disappointment, the Board refused to even speak with our proposed COO, Jamie Boychuk, who oversaw best-in-class operating metrics and network efficiencies at CSX.
  • Mr. Orr’s hire does not change our view that the Company continues to have the wrong CEO in Mr. Shaw and the wrong strategy in the form of “resilience” railroading.

CPKC to report first-quarter 2024 earnings results on April 24, 2024

Retrieved on: 
Wednesday, April 3, 2024
CP, CPKC, AB, TSX

CALGARY, AB, April 3, 2024 /PRNewswire/ - Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC) will release its first-quarter 2024 financial and operating results after the market close on April 24, 2024.

Key Points: 
  • CALGARY, AB, April 3, 2024 /PRNewswire/ - Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC) will release its first-quarter 2024 financial and operating results after the market close on April 24, 2024.
  • CPKC will discuss its results with the financial community in a conference call beginning at 4:30 p.m.
  • ET (2:30 p.m. MT) on April 24, 2024.

Norfolk Southern appoints industry veteran John Orr as chief operating officer

Retrieved on: 
Wednesday, March 20, 2024
Growth, CPKC, Precision, Harvard Business School, History, Acquisition, Advanced Management Program, Transport, University, NS, Meridian Speedway, Safety, University of Waterloo, KCS, Shaw, National Railway, NSC, Engineering, Management

ATLANTA, March 20, 2024 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) announced Wednesday the appointment of John Orr as executive vice president and chief operating officer, effective immediately. Throughout his four-decade career, Orr has earned a reputation as a proven leader in applying scheduled railroading principles to drive sustainable long-term value creation. He spearheaded the turnaround of Canadian Pacific Kansas City's (CPKC) Mexico operations by successfully implementing a high-efficiency operating model, shaped and guided the execution of Kansas City Southern's (KCS) service-focused scheduled railroading initiatives, and drove significant improvements in Canadian National Railway's (CN) safety and operational performance.

Key Points: 
  • ATLANTA, March 20, 2024 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) announced Wednesday the appointment of John Orr as executive vice president and chief operating officer, effective immediately.
  • He will report directly to Norfolk Southern president and chief executive officer Alan H. Shaw.
  • In connection with Orr's appointment, current chief operating officer Paul Duncan departed the company to pursue other opportunities.
  • Alan Shaw, Norfolk Southern president and chief executive officer, said, "John is a deeply respected and accomplished leader, and is the right chief operating officer to ensure execution of our strategy of balancing safe service, productivity, and growth.

CPKC announces departure of Executive Vice President and Chief Transformation Officer

Retrieved on: 
Wednesday, March 20, 2024
MNBR, Concession, Climate change, Crime, Organization, Tax, Growth, Risk, Canadian Pacific Railway, Earthquake, CPKC, Meridian and Bigbee Railroad, AB, Perception, Terrorism, News, Acquisition, Transport, Public expenditure, Management, Drought, Insurance, Carbon, Flood, Pleasure, TSX, Data collection, Investment, Meridian Speedway, The, CP, Public opinion, S.A, Norfolk Southern Railway, KCS, Analysis, Result, Conversation, Violence, Weather

CALGARY, AB, March 20, 2024 /PRNewswire/ - Today, Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC) announced the departure of John Orr, Executive Vice President and Chief Transformation Officer.

Key Points: 
  • CALGARY, AB, March 20, 2024 /PRNewswire/ - Today, Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC) announced the departure of John Orr, Executive Vice President and Chief Transformation Officer.
  • "On behalf of the Board of Directors and the CPKC family I would like to thank John for his contributions and impactful leadership," said CPKC President and Chief Executive Officer Keith Creel.
  • Mr. Orr was appointed Executive Vice President and Chief Transformation Officer of CPKC on April 14, 2023.
  • Prior to this role, he served as Executive Vice President Operations for Kansas City Southern from 2021 through 2023.

Be in Illinois: Illinois Launches Campaign to Attract Canadian Businesses

Retrieved on: 
Monday, March 18, 2024
Growth, CPKC, Partnership, History, Food, Translation, Heart, Workforce, McCain Foods, Government, Advertising, Drug

CHICAGO, March 18, 2024 /PRNewswire/ -- Intersect Illinois, the state's public-private business attraction organization, today announced an expansion of its "Be in Illinois" campaign to reach Canadian markets.

Key Points: 
  • CHICAGO, March 18, 2024 /PRNewswire/ -- Intersect Illinois , the state's public-private business attraction organization, today announced an expansion of its " Be in Illinois " campaign to reach Canadian markets.
  • "Be in Illinois" highlights Illinois as the global business destination in the heart of the U.S. with all the right assets to help Canadian businesses accelerate growth.
  • "Canadian businesses have found a like-minded, supportive place for growth in Illinois and we want to showcase to their counterparts the success that Canadian companies can have here."
  • For more information on Canadian businesses growing in Illinois, visit our website (with translations in French for the Canadian market).

CPKC celebrates historic opening of CPKC Stadium

Retrieved on: 
Saturday, March 16, 2024
Sport, Canadian Pacific Railway, Pacific Ocean, CPKC, Risk, AB, LPGA, University, Woman, TSX, Safety, CP, Kansas City Current

CALGARY, AB, March 14, 2024 /PRNewswire/ - Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC) representatives today joined the Kansas City Current soccer team to celebrate the opening of CPKC Stadium, the first stadium in the world built specifically for a women's professional sports team.

Key Points: 
  • CALGARY, AB, March 14, 2024 /PRNewswire/ - Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC) representatives today joined the Kansas City Current soccer team to celebrate the opening of CPKC Stadium, the first stadium in the world built specifically for a women's professional sports team.
  • Today, we proudly build on that legacy with this barrier-breaking stadium opening.
  • Today, prior to CPKC Stadium opening to the public for the first regular season Kansas City Current home game, CPKC presented the team with a new specially designed mini-train, modelled after CPKC's popular Little General mini-train.
  • CPKC and the Kansas City Current announced their historic naming rights agreement on Oct. 19, 2023.

Americold Announces Plans for First Cold Storage Facility on CPKC Rail Network in Missouri

Retrieved on: 
Thursday, February 22, 2024
Acquisition, KC, TSX, City, Transport, Economic development, CP, CPKC, Kansas City Southern Railway, Workforce, Food, MMX

ATLANTA, GA., Feb. 22, 2024 (GLOBE NEWSWIRE) -- Americold Realty Trust (NYSE: COLD), a global leader in temperature-controlled logistics, real estate, and value-added services focused on the ownership, operation, acquisition and development of temperature-controlled warehouses, today announced plans to develop its first facility through a strategic collaboration with Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC) to co-locate Americold warehouse facilities on the CPKC network.

Key Points: 
  • “Americold’s selection of Kansas City for its new facility is another example of Missouri’s ability to attract leading businesses,” said Governor Mike Parson.
  • “This company’s decision speaks to the value of our strategic location, skilled workforce, and superior infrastructure.
  • “We are excited to kick off our strategic collaboration with CPKC through our new Kansas City cold storage facility, expanding Americold’s presence in an important U.S. transportation hub,” said George Chappelle, Chief Executive Officer at Americold.
  • “Combining our cold storage capabilities with CPKC’s extensive rail network enables Americold to deliver a differentiated offering to support more customers across North America.

CN and CPKC Push Toward Work Stoppage, Neglect Serious Negotiation Efforts, Say Teamsters

Retrieved on: 
Monday, February 19, 2024
Canada Labour Code, Strike, TCRC, Purolator, Safety, Transport, Rail transport by country, Farmer, Teamsters Canada, Conference, Private sector, Rest, Fatigue, UPS, CP, CPKC, Negotiation, Rail transport

CN and CPKC are currently in negotiations with the Teamsters to renew three collective agreements affecting approximately 9300 workers at both companies.

Key Points: 
  • CN and CPKC are currently in negotiations with the Teamsters to renew three collective agreements affecting approximately 9300 workers at both companies.
  • “CN and CPKC aim to eliminate all safety-critical rest provisions from our collective agreements.
  • We want to reach a negotiated settlement, but their demands are non-starters for the Teamsters.
  • At CPKC, the Teamsters represent close to 3200 conductors, locomotive engineers, and yard workers under a single contract.

CPKC Executive Vice-President and Chief Financial Officer to address the J.P. Morgan 2024 Industrials Conference on March 12, 2024

Retrieved on: 
Thursday, February 29, 2024
AB, TSX, CPKC, CP, Conference

CALGARY, AB, Feb. 29, 2024 /PRNewswire/ - Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC) Executive Vice-President and Chief Financial Officer Nadeem Velani will address the J.P. Morgan 2024 Industrials Conference on March 12, 2024 at 10 a.m.

Key Points: 
  • CALGARY, AB, Feb. 29, 2024 /PRNewswire/ - Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC) Executive Vice-President and Chief Financial Officer Nadeem Velani will address the J.P. Morgan 2024 Industrials Conference on March 12, 2024 at 10 a.m.
  • ET.
  • CPKC will provide access to the live audio webcast at investor.cpkcr.com .
  • A replay will also be available following the conclusion of the event.