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            march 25, 2019

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CN hunts for new CEO after abrupt exit by Luc Jobin


Canadian National Railway Co (CN) has revelaed that CEO Luc Jobin has resigned, effective immediately.
The Montreal-based railway's board has installed Jean-Jacques Ruest as interim president and CEO until a permanent replacement is hired. Mr Ruest has been with the railway for 22 years, and served for the past eight years as executive vice president and chief marketing officer.
"The board believes the company needs a leader who will energise the team," said board chairman Robert Pace, in a statement.
CN has been under increasing pressure to improve its performance. Since the fall of 2017, the railroad has struggled to meet increasing shipper demand with "insufficient network resiliency," which the board said was further exacerbated by severe winter weather, American Shipper reported.
In a message to staff, Mr Ruest paid tribute to the departing CEO: "I want to thank Luc for his dedicated service to CN. Luc made many valuable contributions and drove significant change at CN.
"Now, it is time to accelerate our innovation agenda and ensure that we are laser-focused on operational and service excellence. We can and will deliver best-in-class customer service.
"I accepted this role, knowing that I am backed up by the very best team of railroaders in the business. The entire Leadership Team is counting on your full support to get the job done."
An international search for a new CEO is currently underway, the company said.

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