Harrison Wants Canadian Railways to Collaborate More, Globe Says
Hunter Harrison, who is William Ackman’s pick to lead Canadian Pacific Railway Ltd. (CP), wants the company to step up collaboration with Canadian National Railway Co. (CNR), the Globe and Mail reported.
Harrison, Canadian National’s former chief executive officer, would like the companies to work together in some rail corridors to cut bottlenecks and move goods more efficiently, the Globe said. About 25 percent of Canadian Pacific’s network overlaps with that of Canadian National, the newspaper said.
Canada’s two largest railways have discussed cooperation in the past, but “there were a lot of things left on the table,” the Globe cited Harrison as saying in an interview this week.
Ackman, the founder of New York-based Pershing Square Capital Management LP, has put naming Harrison as CEO at the center of his turnaround plan for the railroad.
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