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Canadian Pacific announced Matthew Paull has been appointed to the board effective immediately, replacing Paul Hilal, who has resigned.Hilal's departure coincides with his resignation from Pershing Square Capital Management L.P. A CP board member since 2012, Hilal chaired the board's Management Resources and Compensation Committee and was a member of the Finance Committee."Paul was the visionary who first recognized that CP was a good railroad that could become great with the right team and right plan in place," said CP Chief Executive Officer E. Hunter Harrison in a press release.Paull joins the CP board after a career spent in senior financial roles. He served as senior executive vice president and chief financial officer of McDonald's Corp. from 2001until he retired in 2008. Prior to joining McDonald's in 1993, Paull was a partner at Ernst & Young where he managed a variety of financial practices during his 18-year career. He was a director and a member of the Audit Committee of Best Buy Co. from 2003 through 2013, as its lead independent director from 2010 through 2013, and also chaired its Finance and Investment Policy Committee.Additionally, Paull has served as a director of Air Products & Chemicals Corp. since 2013, where he now chairs the Audit and Finance Committee, and as a director of KapStone Paper and Packaging Corp. since 2010. Paull also serves as an advisory director of Pershing Square Capital Management and The One Acre Fund.
"Matthew brings a valuable breadth of experience at the executive and board levels that will have an immediate positive impact on CP's board," said CP Chairman Andrew Reardon. Paull will chair the board's Audit Committee.