Congestion hits rail flows from Canada's ports as boxes begin to pile up
Rail flows from ports to the Canadian metropolises of Toronto and Montreal are stuck in ...
Canadian National has announced that chief executive Luc Jobin is leaving the company, with chief marketing officer Jean-Jacques Ruest taking the reins on an interim basis.
The rail operator gave no further details on Mr Jobin’s departure from the carrier after some nine years.
Several news reports describe the moves as “abrupt”, while CBC News said he had been ousted, the carrier “struggling through” operational and customer service “challenges”.
Mr Jobin’s tenure in the top position lasted a little over 21 months after seven years as chief financial officer. Prior to joining CN he served as executive vice president for Power Corporation of Canada.
Mr Reust has spent more than two decades working for the carrier in a number of roles.
Chairman Robert Pace said CN required a leader that would “energise” it in a market of “high demand” and “insufficient network resiliency”.
“Mr Ruest is well-known, and well-positioned to focus the company and its experienced and proven team of railroaders to rapidly address operational challenges during the transition,” he added.
“CN must accelerate execution of the innovation strategy articulated at our Investor Day last June, and the Board is confident this remains the right course.”
Reports in February suggested the carrier’s poor performance was doing “irreparable damage” to its reputation and it was losing ground to its competitors.