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Rail News Home Canadian National Railway - CN


Rail News: Canadian National Railway - CN

CN sets shareholder meeting requested by TCI


CN today announced that it has scheduled a special meeting of shareholders in response to a requisition by CIFF Capital and TCI (collectively TCI).

The meeting is scheduled for March 22, 2022. TCI and CN have mutually agreed to the date of the special meeting.

CN remains committed to executing its ambitious, long-term, sustainable growth strategy, and is grateful for early expressions of support for this plan that it has received from valued shareholders, customers, partners and other key stakeholders., CN officials said in a press release.

In making the meeting announcement, the company reiterated its message that it has “best-in-class corporate governance and a strong shareholder engagement program as it continues to focus on operational excellence, a customer-first culture, innovation and ESG leadership.”

Over the past year, CN changes to governance included the addition of three new independent directors and achieving gender parity among independent directors ahead of plan. At the company’s most recent annual general meeting, all directors received greater than 95% of votes in favor, and CN’s say-on-pay resolution passed with 97.7% support.

TCI’s motives for its requisition are dubious, CN officials said. To read the company’s complete statement, click here.