E. Hunter Harrison to remain with Canadian Pacific until 2017

 CALGARY, May 7, 2014 /CNW/ - The Board of Directors for Canadian Pacific  Railway Limited (TSX: CP) (NYSE: CP) today announced CP Chief Executive  Officer E. Hunter Harrison has agreed to a contract extension with the railway  for an additional year.  "When Hunter was brought in to lead the transformational change of this iconic  company, the agreement was for four years, plus an option for an additional  year," said CP Board of Directors Chairman, Gary Colter. "In seeing CP's rapid  turnaround under Hunter's leadership, the Board was unanimous in wanting him  to stay on until 2017 and we are extremely pleased he has accepted."  Harrison officially joined CP in June, 2012.  "I am honoured the Board of Directors asked me to remain in a leadership role  for an extra year," said Harrison.  "Even though CP has experienced phenomenal  success in a short period of time, there remains a lot to accomplish over the  next three years to grow this company even further with our customers and  shareholders."  Colter added, "Hunter is arguably the most respected and successful leader in  the rail industry and Canadian Pacific's evolution is stronger than ever with  an outstanding senior leadership team and a railway operating model that will  take CP to levels it has not achieved in its 133-year history."  Note on forward-looking information This news release contains certain forward-looking information within the  meaning of applicable securities laws relating, but not limited, to our  operations, priorities and plans, anticipated financial performance, purchases  of common shares for cancellation under CP's share repurchase program, future  sources of capital, business prospects, planned capital expenditures, programs  and strategies. This forward-looking information also includes, but is not  limited to, statements concerning expectations, beliefs, plans, goals,  objectives, assumptions and statements about possible future events,  conditions, and results of operations or performance. Forward-looking  information may contain statements with words or headings such as "financial  expectations", "key assumptions", "anticipate", "believe", "expect", "plan",  "will", "outlook", "should" or similar words suggesting future outcomes.  Undue reliance should not be placed on forward-looking information as actual  results may differ materially from the forward-looking information.  Forward-looking information is not a guarantee of future performance. By its  nature, CP's forward-looking information involves numerous assumptions,  inherent risks and uncertainties that could cause actual results to differ  materially from the forward-looking information, including but not limited to  the following factors: changes in business strategies; general North American  and global economic, credit and business conditions; risks in agricultural  production such as weather conditions and insect populations; the availability  and price of energy commodities; the effects of competition and pricing  pressures; industry capacity; shifts in market demand; changes in commodity  prices; uncertainty surrounding timing and volumes of commodities being  shipped via CP; inflation; changes in laws and regulations, including  regulation of rates; changes in taxes and tax rates; potential increases in  maintenance and operating costs; uncertainties of investigations, proceedings  or other types of claims and litigation; labour disputes; risks and  liabilities arising from derailments; transportation of dangerous goods;  timing of completion of capital and maintenance projects; currency and  interest rate fluctuations; effects of changes in market conditions and  discount rates on the financial position of pension plans and investments; and  various events that could disrupt operations, including severe weather,  droughts, floods, avalanches and earthquakes as well as security threats and  governmental response to them, and technological changes. The foregoing list  of factors is not exhaustive. These and other factors are detailed from time  to time in reports filed by CP with securities regulators in Canada and the  United States. Reference should be made to "Management's Discussion and  Analysis" in CP's annual and interim reports, Annual Information Form and Form  40-F. Readers are cautioned not to place undue reliance on forward-looking  information.  Forward-looking information is based on current expectations, estimates and  projections and it is possible that predictions, forecasts, projections, and  other forms of forward-looking information will not be achieved by CP. Except  as required by law, CP undertakes no obligation to update publicly or  otherwise revise any forward-looking information, whether as a result of new  information, future events or otherwise.  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  cpr.ca to see the rail advantages of Canadian Pacific.    SOURCE  Canadian Pacific  Contacts Media Ed Greenberg Tel.: 612-849-4717 24/7 Media Pager:  855-242-3674 email:Ed_greenberg@cpr.ca  Investment Community Nadeem Velani  Tel.: 403-319-3591 email:investor@cpr.ca  To view this news release in HTML formatting, please use the following URL:  http://www.newswire.ca/en/releases/archive/May2014/07/c7026.html  CO: Canadian Pacific ST: Alberta NI: TRN 2575 WNEWS  
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