CALGARY, AB, Feb. 23, 2022 /PRNewswire/ - Canadian Pacific
Railway Limited (TSX: CP) (NYSE: CP) announced today the slate of
nine nominees standing for election as directors at the Canadian
Pacific annual and special meeting scheduled for April 27, 2022.
The director nominees are:
- Isabelle Courville
- The Hon. John R. Baird,
P.C.
- Keith Creel (CP President and
Chief Executive Officer)
- Jill Denham
- Edward R. Hamberger
- Matthew H. Paull
- Jane L. Peverett
- Andrea Robertson
- Gordon Trafton
"With these nominees, the CP Board will have nine exceptional
members with a range of professional experience, including
knowledge of the railway industry, as we head toward our historic
integration of the Kansas City Southern ("KCS") into our network,
pending approval of the U.S. Surface Transportation Board ("STB"),"
said CP Board Chair Isabelle
Courville. "We continue to be a Board that values diversity
of experience as well as background, gender and geography, with our
directors coming from Canada and
the United States."
Provided that the STB gives final approval to our merger with
KCS, which we expect to be in the fourth quarter of 2022, we will
welcome four current members of the KCS Board who will bring their
unique strengths and perspectives to the board of the combined
company. We believe that with the addition of those four board
members we will have the right combination of skills and experience
to move the combined company forward.
Current CP Board Director Rebecca
MacDonald has advised that she will not stand for
re-election at the upcoming annual and special meeting scheduled
for April 27, 2022. The CP
Board of Directors would like to thank Rebecca for her valuable
contribution to the CP Board in her 10 years as a director and as
chair of the Governance Committee during her tenure. During her
time with CP we went from industry laggard to industry leader, with
Rebecca playing an important role in the transformation of CP's
board and management in 2012. Rebecca's contributions have played a
key role in the company's success.
As previously announced, Ed
Monser will similarly not stand for re-election at the same
meeting.The Board thanks Ed for his service and wishes him the very
best for the future.
FORWARD LOOKING STATEMENTS AND INFORMATION
This news release contains certain forward looking statements and
forward looking information (collectively, "FLI"), including
expected regulatory approvals. FLI is typically identified by words
such as "anticipate", "expect", "project", "estimate", "forecast",
"plan", "intend", "will", "target", "believe", "likely" and similar
words suggesting future outcomes or statements regarding an
outlook. All statements other than statements of historical fact
may be FLI.
Although we believe that the FLI is reasonable based on the
information available today and processes used to prepare it, such
statements are not guarantees of future performance and you are
cautioned against placing undue reliance on FLI. By its nature, FLI
involves a variety of assumptions, which are based upon factors
that may be difficult to predict and that may involve known and
unknown risks and uncertainties and other factors which may cause
actual results, levels of activity and achievements to differ
materially from those expressed or implied by these FLI, including,
but not limited to, the following: the realization of anticipated
benefits and synergies of the CP-KCS transaction and the timing
thereof; the success of integration plans; the focus of management
time and attention on the CP-KCS transaction and other disruptions
arising from the CP-KCS transaction; changes in business strategy
and strategic opportunities; estimated future dividends; financial
strength and flexibility; debt and equity market conditions,
including the ability to access capital markets on favourable terms
or at all; cost of debt and equity capital; the ability of
management of CP, KCS and their respective subsidiaries and
affiliates to execute key priorities, including those in connection
with the transaction; general Canadian, U.S., Mexican and global
social, economic, political, credit and business conditions; risks
associated with agricultural production such as weather conditions
and insect populations; the availability and price of energy
commodities; the effects of competition and pricing pressures,
including competition from other rail carriers, trucking companies
and maritime shippers in Canada,
the U.S. and Mexico; North
American and global economic growth; industry capacity; shifts in
market demand; changes in commodity prices and commodity demand;
uncertainty surrounding timing and volumes of commodities being
shipped; inflation; geopolitical instability; changes in laws,
regulations and government policies, including regulation of rates;
changes in taxes and tax rates; potential increases in maintenance
and operating costs; changes in fuel prices; disruption in fuel
supplies; uncertainties of investigations, proceedings or other
types of claims and litigation; compliance with environmental
regulations; labour disputes; changes in labour costs and labour
difficulties; risks and liabilities arising from derailments;
transportation of dangerous goods; timing of completion of capital
and maintenance projects; sufficiency of budgeted capital
expenditures in carrying out business plans; services and
infrastructure; the satisfaction by third parties of their
obligations; currency and interest rate fluctuations; exchange
rates; effects of changes in market conditions and discount rates
on the financial position of pension plans and investments; trade
restrictions or other changes to international trade arrangements;
the effects of current and future multinational trade agreements on
the level of trade among Canada,
the U.S. and Mexico; climate
change and the market and regulatory responses to climate change;
ability to achieve commitments and aspirations relating to reducing
greenhouse gas emissions and other climate-related objectives;
anticipated in-service dates; success of hedging activities;
operational performance and reliability; customer, regulatory and
other stakeholder approvals and support; regulatory and legislative
decisions and actions; the adverse impact of any termination or
revocation by the Mexican government of Kansas City Southern de
Mexico, S.A. de C.V.'s Concession;
public opinion; various events that could disrupt operations,
including severe weather events, such as droughts, floods,
avalanches and earthquakes, and cybersecurity attacks, as well as
security threats and governmental response to them, and
technological changes; acts of terrorism, war or other acts of
violence or crime or risk of such activities; insurance coverage
limitations; material adverse changes in economic and industry
conditions, including the availability of short and long-term
financing; and the pandemic created by the outbreak of COVID-19 and
its variants, and resulting effects on economic conditions, the
demand environment for logistics requirements and energy prices,
restrictions imposed by public health authorities or governments,
fiscal and monetary policy responses by governments and financial
institutions, and disruptions to global supply chains.
We caution that the foregoing list of factors is not exhaustive
and is made as of the date hereof. Additional information about
these and other assumptions, risks and uncertainties can be found
in reports and filings by CP and KCS with Canadian and U.S.
securities regulators, including any proxy statement, prospectus,
material change report, management information circular or
registration statement that have been or will be filed in
connection with the CP-KCS transaction. Reference should be made to
"Risk Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations—Forward Looking
Statements" in CP's and KCS's annual and interim reports on Form
10-K and 10-Q. Due to the interdependencies and correlation of
these factors, as well as other factors, the impact of any one
assumption, risk or uncertainty on FLI cannot be determined with
certainty.
Except to the extent required by law, we assume no obligation to
publicly update or revise any FLI, whether as a result of new
information, future events or otherwise. All FLI in this news
release is expressly qualified in its entirety by these cautionary
statements.
About Canadian Pacific
Canadian Pacific is a
transcontinental railway in Canada
and the United States with direct
links to major ports on the west and east coasts. CP provides North
American customers a competitive rail service with access to key
markets in every corner of the globe. CP is growing with its
customers, offering a suite of freight transportation services,
logistics solutions and supply chain expertise. Visit cpr.ca to see
the rail advantages of CP. CP-IR
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SOURCE Canadian Pacific