Free 7-day Trial
All Articles and Columns »

Ackman Push for New Rail Chief Puts Bull’s-Eye on Canadian Pacific’s Green

Jan 04, 2012 | About:
gurufocus
gurufocus
Canadian Pacific Railway Ltd. (CP)’s chief executive officer may wear a target on his back as the company’s biggest shareholder, William Ackman’s Pershing Square Capital Management LP, pushes for a management switch.

Ackman said yesterday the railroad sought a meeting with his proposed replacement for CEO Fred Green -- Hunter Harrison, the retired chief at Canadian National Railway Co. (CNR) Canadian Pacific Chairman John Cleghorn said the railroad never requested talks with Harrison, while not ruling out a CEO change.

“Why wouldn’t they have said in there, ‘Look, Fred Green’s our guy, he’s going to continue to run the company,’” said Brian Yarbrough, an Edward Jones & Co. analyst in St. Louis. Cleghorn’s only stated concern about Harrison in a letter to Ackman was the former CEO’s “non-compete” agreement with Canadian National, Yarbrough said.

Read the complete story

Tickers in the article:


Download guru portfolio report (PDF format):

Download Guru portfolio report
Bill Ackman
(Updated on 05/23/2012)

Track Gurus’ Stock Purchases Daily – Real Time Guru Picks

GuruFocus "Real Time Picks" reports the stock purchases and sales that Gurus have made within the prior 2 weeks. The report time lag can be as short as 3 days after the date of the transaction. This is just one of the features provided with GuruFocus Premium Membership.

Click Here to Try It Free!


Rate this article:

Rating: 2.7/5 (3 votes)

Comments

Please leave your comment:



More Gurufocus Links

GuruFocus Affiliate Program: Earn up to $104 per referral. ( Learn More)
Free 7-day Trial