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Raisbeck resigns from Canadian Pacific's board


The make-up of Canadian Pacific’s 16-member board changed significantly last month, and now there’s one additional change. Yesterday, CP announced that board member David Raisbeck resigned for personal reasons.

A member since October 2009, Raisbeck served various board committees, including the audit, finance and risk, management resources and compensation, and pension committees.

In 2009, Raisbeck retired as vice chairman of Cargill Inc., which he joined in 1971. His prior roles at the company included president of the trading sector, executive vice president and executive supervisor of human resources.

At this time, the board does not plan to fill the vacancy created by Raisbeck's departure, CP officials said in a prepared statement.

Last month, seven Pershing Square Capital Management L.P. nominees won election to CP’s board: Pershing Square Chief Executive Officer William Ackman; Pershing Square partner Paul Hilal; former Norfolk Southern Railway Vice Chairman and Chief Operating Officer Stephen Tobias; Alberta Enterprise Corp. Chairman Paul Haggis; and Canadian business executives Gary Colter, Rebecca MacDonald and Anthony Melman. On June 4, CP announced that Haggis was elected chairman to succeed John Cleghorn, who decided not to stand for re-election at the Class I’s annual shareholders meeting that was held May 17.

Contact Progressive Railroading editorial staff.

More News from 6/12/2012