CALGARY — On the same day that Canadian Pacific revealed its plan to purchase Kansas City Southern, the company’s board of directors has announced it has amended its contract with President and CEO Keith Creel to keep him in his current position until at least early 2026. The amendment addresses incentive compensation, the company says.
“Today’s announcement speaks to Keith’s leadership and bodes well for the continued long-term success of CP, to the benefit of its employees, customers, communities and shareholders,” Isabelle Courville, chair of the CP board, said in a press release. “Furthermore, this solidifies Keith’s role in overseeing and leading the successful integration of CP with Kansas City Southern (KCS) and all of the benefits that transaction will bring.”
CP’s share price has increased 150% since Creel became CEO in 2017.
“I look forward with great enthusiasm to what is ahead, especially to leading the combined CP/KCS entity,” Creel said in the release. “Our commitment to the fundamentals of precision scheduled railroading, to safety and sustainability, to our customers and the communities we serve, and to each other will remain steadfast and unwavering. We will not lose sight of what got us to this point and we are committed to writing the next chapter in the compelling story of these two great railroads.”
Congratulations CEO Creel.