01—Abstract
Summary
Summary of the 6-K filed October 12, 2012. Cited figures are marked; the original filing is the authoritative source.
This 8-K filing from Canadian Pacific Railway Limited (CP) announces a significant leadership change in its finance department.
Effective November 1, 2012, Brian Grassby will assume the role of Senior Vice-President and Chief Financial Officer (CFO), succeeding Kathryn McQuade. McQuade, who has served as CFO since September 2008 and has a long tenure with the company, will transition to a Senior Advisor role until May 2013 to ensure a smooth handover. This transition occurs during a period of "exciting change" for CP, as mentioned by the new CFO.
Investors should note that Grassby brings extensive financial experience, including a successful transition to U.S. GAAP during his tenure and over 14 years in finance prior to joining CP. McQuade's departure and Grassby's appointment signify a continuity of leadership within the finance function, which will be crucial in driving CP's financial performance and shareholder value.
02—Key points
Key Highlights
- Brian Grassby appointed Senior Vice-President and Chief Financial Officer (CFO) effective November 1, 2012.
- Kathryn McQuade retires as CFO on November 1, 2012, but will remain as Senior Advisor until May 2013 for transition.
- McQuade has served as CFO since September 2008 and previously as Executive Vice-President and Chief Operating Officer.
- Grassby has been with CP since 2001 and has a strong background in financial planning, reporting, and accounting.
- The leadership change is framed as part of a significant period of "exciting change" for Canadian Pacific.
- The appointment emphasizes continuity of leadership and expertise in financial operations.
- Grassby's prior accomplishment includes successfully transitioning CP from Canadian to U.S. GAAP in 2010.
03—Questions
Frequently Asked Questions
What is the main purpose of this 8-K filing?
The main purpose of this 8-K filing is to announce a change in the Chief Financial Officer (CFO) position at Canadian Pacific Railway Limited. Brian Grassby is appointed as the new CFO, succeeding Kathryn McQuade, who is retiring from the role.
When do these leadership changes take effect?
Brian Grassby's appointment as CFO is effective November 1, 2012. Kathryn McQuade's retirement from the CFO role is also effective November 1, 2012, though she will remain as a Senior Advisor until May 2013.
What is Kathryn McQuade's role after retiring as CFO?
Kathryn McQuade will transition to a Senior Advisor role, providing support to Brian Grassby until the end of her contract in May 2013, to ensure a smooth and successful transition of financial leadership.
What is Brian Grassby's prior experience at CP?
Brian Grassby joined CP in 2001 as Vice-President and Comptroller. His responsibilities have included financial planning, reporting, accounting systems, pension, treasury, tax, and supply services. He also led the successful transition to U.S. GAAP in 2010.
04—Continue