Summary
Canadian Pacific Kansas City Ltd. (CP) filed an 8-K on January 27, 2016, announcing significant changes to its Board of Directors. Paul Hilal resigned from his position as a director, effective immediately, after serving since 2012. His resignation was not due to any disagreements with the company. This departure was accompanied by the appointment of Matthew H. Paull as a new director. Mr. Paull's appointment includes taking over as Chair of the Audit Committee from Isabelle Courville, who will remain a member of the committee. The company stated there are no undisclosed arrangements or transactions between CP and Mr. Paull, and he will be compensated according to the standard director compensation policies. The filing also includes a press release detailing these board changes as an exhibit.
Key Highlights
- 1Paul Hilal, a director since 2012, has resigned from the Board of Directors.
- 2Mr. Hilal's resignation was effective immediately and is not a result of any disagreement with the company.
- 3Matthew H. Paull has been appointed as a new director to the Board.
- 4Matthew H. Paull will assume the role of Chair of the Audit Committee, replacing Isabelle Courville.
- 5Isabelle Courville will continue to serve as a member of the Audit Committee.
- 6There are no reportable related-party transactions or undisclosed arrangements concerning Mr. Paull's appointment.
- 7Mr. Paull's compensation will follow the company's established policies for non-executive directors.