01—Abstract
Summary
Summary of the 6-K filed February 4, 2013. Cited figures are marked; the original filing is the authoritative source.
Canadian Pacific Railway Limited (CP) announced a significant leadership change via a Form 6-K filing on February 4, 2013.
Keith Creel has been appointed President and Chief Operating Officer (COO), effective February 5, 2013. Creel, a highly regarded operating executive with prior experience at Canadian National Railway (CN) and Burlington Northern, will report directly to CEO E. Hunter Harrison.
This appointment is presented as a key element in CP's "transformational journey" to become a top-tier North American railroad, emphasizing a focus on operational excellence and customer service restoration. The filing also serves to incorporate this leadership announcement into previously filed registration statements. Investors should view this as a strategic move to bolster the company's operational capabilities during a period of significant strategic repositioning, leveraging the combined expertise of Harrison and Creel to drive the ongoing turnaround efforts.
02—Key points
Key Highlights
- Keith Creel appointed President and Chief Operating Officer (COO) of Canadian Pacific, effective February 5, 2013.
- E. Hunter Harrison will continue to serve as Chief Executive Officer (CEO).
- Creel previously held the position of Executive Vice President and COO at Canadian National Railway Company (CN).
- CEO E. Hunter Harrison praised Creel as one of the "best young operating talents" in the industry.
- Creel's appointment is framed as critical to CP's "transformational journey" and turnaround efforts, focusing on operational excellence and customer service.
- Creel will oversee key operational and marketing functions, with EVPs and SVPs reporting to him.
- The filing is a Form 6-K, used by foreign private issuers, and incorporates this information into existing registration statements.
03—Questions
Frequently Asked Questions
What is the main purpose of this 8-K filing?
This filing (a Form 6-K) primarily announces the appointment of Keith Creel as President and Chief Operating Officer (COO) of Canadian Pacific. It also incorporates this announcement into existing registration statements filed with the SEC.
Who is Keith Creel and why is his appointment significant?
Keith Creel is a seasoned operating executive, formerly EVP and COO at Canadian National Railway. His appointment as President and COO of Canadian Pacific is considered significant because CEO E. Hunter Harrison views him as a top talent crucial to the company's strategic turnaround and operational improvement initiatives.
What is the relationship between E. Hunter Harrison and Keith Creel?
E. Hunter Harrison is the CEO of Canadian Pacific, and Keith Creel will report directly to him as President and COO. They have a prior working relationship, with Creel having worked under Harrison for many years at CN.
What does this appointment mean for Canadian Pacific's operational strategy?
The appointment of Creel, a highly experienced COO, signifies a strong emphasis on operational excellence and the execution of the company's turnaround strategy. It signals a commitment to improving customer service and operational efficiency under seasoned leadership.
04—Continue