News Summary: CEO of Canadian Pacific resigns

AP News
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Posted: May 17, 2012 11:18 AM
News Summary: CEO of Canadian Pacific resigns

PULLING OUT: The embattled CEO of Canadian Pacific Railway is leaving, ending a months-long battle that pitted New York activist Bill Ackman against a board stacked with Canadian business leaders.

WRONG TRACK? Green's detractors say Canadian Pacific has become North America's worst performing major railway under his leadership, while his supporters insist the problems are exaggerated.

ALL ABOARD: Canadian Pacific chairman John Cleghorn, who has defended Green, also said he will leave the company. Four other Canadian Pacific directors won't stand for re-election.