Canadian National Railway (CN) has entered into a resolution agreement with CIFF Capital and TCI (collectively known as TCI), and has named its new president and CEO. Tracy Robinson will serve as president, CEO, and as a member of its board of directors, effective February 28, 2022. This appointment follows the previously announced retirement of… Read More
Tag: CN Rail
CN Rail is currently looking for a new CEO. Normally, an executive search wouldn’t draw that much attention; however, when the position is potentially filled by someone from a shareholding hedge fund, it could impact the direction and mission of the company. That’s according to the federal Conservatives, and Andrew Scheer, shadow minister for infrastructure… Read More
CN Rail says that train movement has resumed on CN’s rail line on the Kamloops-Vancouver corridor, allowing movement of goods to and from the Vancouver port. “CN would like to thank first responders and all emergency management officials for their support and dedication throughout this ordeal,” the company says. “CN crews will continue to monitor… Read More
We’ve all been watching the situation in British Columbia unravel, as this significant weather event continues to transpire and wreak havoc. Amongst the challenges people are facing in all the areas impacted, are challenges to our transportation system, along the highways and railways. David Przednowek, assistant vice president for grain with CN Rail, joined RealAg… Read More
The west coast, Fraser Valley, and further inland at Merrit, B.C. and just to the south has faced two days of incredible rainfall flooding homes, submerging roads, and cutting deep ravines under highways and bridges. Images of stranded cattle and horses, flooded roads and neighbourhoods, and completely destroyed roads have dominated the news since Monday,… Read More
The CEO of CN Rail plans to retire this winter, the railway announced on Tuesday, Oct 19. Jean-Jacques (JJ) Ruest will retire as president and chief executive officer, as well as board member for the company, at the end of January 2022 “or such later time as a successor has been appointed to ensure a… Read More
Canadian Pacific (CP) Railway’s plan to acquire Kansas City Southern (KCS) is one major step closer to becoming a done deal. The companies signed a merger agreement on Wednesday after rival Canadian National (CN) Railway waived its right to a five-day period to negotiate new terms with the coveted Kansas City-based railroad. The US$27.2 billion… Read More
Canadian Pacific (CP) Railway’s plan to acquire Kansas City Southern (KCS) and establish the first Canada-U.S.-Mexico railway is back on track after U.S. regulators blocked rival Canadian National (CN) Railway’s merger application late last month. The KCS board of directors announced on Sunday — the deadline given by CP in its offer — that it… Read More
Update, Sept 1: KCS has canceled the shareholder vote that was to be held Friday on whether to accept CN Rail’s offer. CN Rail’s preferred plan for taking over Kansas City Southern (KCS) has been blocked by U.S. regulators in a decision that’s being welcomed by rival suitor CP Rail. On Tuesday, the U.S. Surface… Read More
Both of Canada’s major railways say they moved a record amount of grain during the 2020-21 crop year, which wrapped up on July 31. CN Rail says it moved just over 31 million metric tonnes of Canadian grain and grain products in hopper cars, exceeding its previous record of 29.4 million tonnes set in the… Read More
Update, as of July 14: Both CN and CP once again halted traffic in the area around Lytton, B.C. on Wednesday due to new fires east of the community. “For the safety of our crews, we are not currently running trains between Kamloops and Lytton, B.C.,” says CN in a network update distributed July 14…. Read More
The federal transport minister has issued an order requiring Canada’s two main railways — Canadian National and Canadian Pacific — to implement a set of measures aimed at preventing further wildfires in southern B.C. and other parts of the country where fire risk is high. Minister Omar Alghabra issued the ministerial order on Sunday, following… Read More
Canadian National Railway (CN Rail) appears to have come from behind and taken the lead in the race with Canadian Pacific Railway (CP Rail) to merge with Kansas City Southern to form the first rail freight network to link Canada, the U.S., and Mexico. CN announced Thursday that it has revised its offer to merge… Read More
Canadian National (CN) Railway has announced a competing bid to combine forces with the Kansas City Southern (KCS) railway. CN says its offer represents a 21 per cent premium over the implied value of Canadian Pacific (CP) Railway’s existing agreement with KCS, which was announced in late March. The CP-KCS deal, which has already been… Read More
The Canadian Transportation Agency (CTA) has ruled that Canadian National Railway (CN) and Canadian Pacific Railway (CP) were above their maximum grain revenue entitlements for the 2019-2020 crop year. CN and CP will have 30 days to pay the amount by which they exceeded their revenue entitlements — $3.17 million and $2.17 million respectively —… Read More