Harrison Eyes Another Job After Retiring Early From Canadian Pacific
- Harrison gives up C$118 million to modify non-competition deal
- Creel to take the helm, accelerating plan for June ascension
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Canadian Pacific Railway Ltd. appointed Keith Creel as chief executive officer to replace Hunter Harrison, who is stepping down earlier than planned after seeking the board’s permission to work for another railroad.
A separation agreement gives the outgoing CEO a “limited waiver” of his non-competition obligations, the Calgary-based railroad said in a statement Wednesday. Harrison is giving up C$118 million ($89 million) in benefits and awards as part of the pact, according to the statement.