Canadian Pacific Loses Another Board Member With Ingram Resignation
07/06/2012| 08:47am US/Eastern
By Judy McKinnon
Canadian Pacific Railway Ltd. (>> Canadian Pacific Railway Limited) said Tony Ingram has resigned from its board, marking the third director to step down in less than a month.
The resignation follows the departure of David Raisbeck from the Calgary railroad's board in mid June, followed by Rick George, former chief executive of Suncor Energy Inc. (>> Suncor Energy Inc.), who stepped down late last month.
Mr. Ingram's departure is the first since Hunter Harrison was named president and chief executive of CP last week after the successful proxy battle waged by Bill Ackman and his Pershing Square Capital Management LP, which is CP's largest shareholder.
As with the other board-member departures, CP said Friday it doesn't plan to fill the vacancy created by Mr. Ingram's resignation. The railroad now has 14 directors.
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