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AP National Business

Canadian National CEO retiring in face of investor pressure

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Published 3:44 PM

By JOSH FUNK
AP Business Writer

OMAHA, Neb. (AP) — Canadian National’s CEO is retiring instead of staying to fight against an investor who has been pushing for his ouster. The Montreal-based railroad on Tuesday announced JJ Ruest’s decision to retire at the end of January. It did not mention the pressure Canadian National is facing from the London-based investment firm TCI Fund. The fund is also pushing for several operational changes at the railroad in the wake of its failed attempt to acquire Kansas City Southern. A special shareholder meeting has been scheduled for March 22 to vote on TCI’s demands. 

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