Jim Vena withdraws as candidate for Canadian National CEO role

Reuters

Mon, Dec 20, 2021, 8:39 AM1 min read

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Dec 20 (Reuters) - Canadian National Railway Co said on Monday that Jim Vena, who was backed by a group of investors to lead the country's largest railway operator, had withdrawn from the running to serve as the new chief.

The company said it was expecting to complete the process and announce a new chief executive officer in January 2022.

The former Union Pacific executive was pitched for the top job by TCI Fund Management, which owns 5% of Canadian National, after CEO Jean-Jacques Ruest said he would retire at the end of January or when a successor had been appointed.

The Wall Street Journal reported in October that activist investor Elliott Management Corp, which owns a big stake in Canadian National, had thrown its weight behind Vena's candidacy. (Reporting by Nathan Gomes in Bengaluru; Editing by Anil D'Silva)

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