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CN adds one year to CEO Harrison's contract


When you’re the only top Class I executive to lower your respective railroad’s operating ratio into the 50s, it’s hard for the road’s board not to notice. Canadian National Railway Co.’s directors did. Yesterday, CN President and Chief Executive Officer E. Hunter Harrison received a vote of confidence when Chairman David McLean announced the board extended his contract for one year.

A five-year pact Harrison signed in 2004, which was set to expire at 2008’s end, now will expire Dec. 31, 2009.

“Hunter has been a tremendous leader, transforming CN into one of the continent’s leading railroads,” said McLean in a prepared statement.

CN’s top exec since January 2003 and a board member since December 1999, Harrison previously served as executive vice president and chief operating officer. Prior to CN, he held various positions — including president and CEO — at Illinois Central Corp. and Illinois Central Railroad Co., which CN acquired in 1999.

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More News from 12/1/2006