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CP appoints new directors to board, Bill Ackman resigns

Canadian Pacific RailwayCanadian Pacific Railway Limited announced the appointment of Jill Denham and William R. Fatt to the board and the resignation of Bill Ackman, effective September 6, 2016.

Ms. Denham joins the CP board after a career spent in senior roles in the financial services industry. She was the Vice Chair Retail Markets at CIBC from 2001 through 2005 and the Managing Director Head of Commercial Banking and E-Commerce at the bank from 1999 to 2001.

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Prior to that, Ms. Denham served CIBC overseas in London, UK as the Managing Director Head from 1995. She entered the financial services industry in 1983.

Ms. Denham currently serves as Chair of the Board at Morneau Sheppell and at Munich Reinsurance Canada. She is also a board member at National Bank of Canada and Kinaxis Inc.

Mr. Fatt joins the CP board after serving as the Chairman and CEO of FRHI Hotels & Resorts from 1998 through July 2016.

Prior to becoming CEO at FRHI, which was created from the merger of Fairmont Hotels & Resorts and Raffles Hotels & Resorts in 2006, Mr. Fatt was the CFO at Canadian Pacific Ltd. - the parent company of Fairmont's predecessor, Canadian Pacific Hotels as well as CP's operating company, Canadian Pacific Railway Co.

Mr. Fatt currently sits on the board of the Jim Pattison Group and the Bank of Nova Scotia.

Previously, he had served on the boards of Cadillac Fairview Corp., EnCana Corp., SunLife Financial Inc. and Enbridge Inc.

Mr. Ackman, who was a member of the Finance and Corporate Governance and Nominating Committees, joined the board in 2012.

Mr. Ackman is the founder and Chief Executive Officer of Pershing Square Capital Management, L.P., an investment adviser.

Mr. Ackman is Chairman of the Board of The Howard Hughes Corporation, a trustee of the Pershing Square Foundation and a member of the Board of Dean’s Advisors of the Harvard Business School.

Mr. Ackman holds an M.B.A. from Harvard Business School and a Bachelor of Arts magna cum laude from Harvard College.




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