Canadian Pacific announces the appointment of Bart Demosky as Executive
Vice-President and Chief Financial Officer
CALGARY, Nov. 29, 2013
CALGARY, Nov. 29, 2013 /PRNewswire/ - Canadian Pacific (TSX:CP) (NYSE:CP)
today announced that Bart Demosky has been appointed Executive Vice-President
and Chief Financial Officer (CFO) effective December 28, 2013.On October 23,
2013, CP announced that Brian Grassby would retire as the company's Senior
Vice-President and Chief Financial Officer at year-end.
Demosky joins CP from Suncor Energy where he had been Chief Financial Officer
since 2009. His career at Suncor began in 2006 when he was appointed vice
president and treasurer. In 2008 Demosky was appointed Senior Vice-President
Business Services. Demosky brings to CP over 25 years of senior financial,
strategic, operations and risk management experience.
"Our search for a new CFO began when Brian informed us of his decision to
retire at the end of the year," said E. Hunter Harrison, CP's Chief Executive
Officer. "This was the most comprehensive North American CFO search process in
my career, as management and the Board recognized the importance of bringing
in someone with the breadth of business experience and financial talent
required to help lead this organization forward. In Bart Demosky, we believe
we have found that individual. Bart is arguably one of the top CFO's in
Canadian business and we are thrilled that he will be joining our team."
"I would also like to thank Brian for his years of dedicated service to CP and
wish him all the best in retirement," added Harrison.
"The transformation of CP, one of Canada's most iconic organizations, is
without question one of the most successful turnaround stories in Canadian
history," said Demosky."I am honoured and excited by this opportunity to
work along-side Hunter Harrison and the CP team and lead the finance
organization as we continue the incredible progress that has already begun."
As CP's executive vice-president and CFO, Demosky will be a key member of the
senior management team responsible for helping plan the long-term strategic
direction of the company. Other responsibilities will include financial
planning, reporting and accounting systems as well as pension, treasury and
tax. Demosky holds a bachelor's degree in economics from the University of
Calgary and is an honours graduate from the University of Calgary's Management
About Canadian Pacific
Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and
the United States with direct links to eight major ports, including Vancouver
and Montreal, providing North American customers a competitive rail service
with access to key markets in every corner of the globe. CP is a low-cost
provider that is growing with its customers, offering a suite of freight
transportation services, logistics solutions and supply chain expertise. Visit
www.cpr.ca to see the rail advantages of Canadian Pacific.
SOURCE Canadian Pacific
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