Canadian Pacific Kansas City said the leadership change takes effect immediately as second-quarter net income fell to C$1.02 billion from C$1.23 billion a year earlier.
Canadian Pacific Kansas City said Board Chair Isabelle Courville has retired and long-time director Gordon Trafton has been appointed chair effective immediately under the board’s succession plan. The company also reported lower second-quarter profit, with net income falling to C$1.02 billion, or US$728.9 million, from C$1.23 billion a year earlier, while per-share profit slipped to C$1.15 from C$1.33.