Photo courtesy of CN.
The board has appointed Jean-Jacques Ruest interim president and CEO until a permanent replacement is in place. Ruest has been with the company for 22 years, the last eight as executive vice-president and chief marketing officer.
“The board believes the company needs a leader who will energize the team, realize CN’s corporate vision and take the company forward with the speed and determination CN is known for,” said Robert Pace, board chairman. “Ruest is well known to customers and investors, and is well positioned to focus the company and its very experienced and proven team of railroaders to rapidly address operational challenges during the transition.”
The board believes that in an increasingly competitive marketplace, CN must respond with speed and innovation to retain its leadership position. The board also recognizes the immediate operational and customer service challenges the company has been facing since fall 2017 — led by high demand and insufficient network resiliency, coupled with severe winter weather conditions.
“CN must accelerate execution of the innovation strategy articulated at our Investor Day last June,” Pace said. “The board is confident this remains the right course to restore and retain industry-leading metrics and best in class customer service.”
An international search for a new CEO is underway.