CP and KCS set to combine on April 14, 2023

Canadian Pacific has said that on April 14, 2023, it will exercise the authority granted by the U.S. Surface Transportation Board’s (STB) March 15 final decision and combine with Kansas City Southern (KCS) to create Canadian Pacific Kansas City.

CP also announced the executive leadership team that will lead CPKC. CP president and CEO Keith Creel will become president and CEO of CPKC.

The following are the anticipated future senior leaders of CPKC, subject to formal appointment by the board of directors, with the executives listed below reporting to the president and CEO:

• Nadeem Velani, Executive Vice-President and Chief Financial Officer
• John Brooks, Executive Vice-President and Chief Marketing Officer
• Mark Redd, Executive Vice-President and Chief Operating Officer
• John Orr, Executive Vice-President and Chief Transformation Officer
• James Clements, Executive Vice-President Strategic Planning & Technology
• Jeff Ellis, Executive Vice-President Chief Legal Officer and Corporate Secretary
• Warren Erdman, Executive Advisor Strategic Projects
• Laird Pitz, Senior Vice-President and Chief Risk Officer
• Mike Foran, Senior Vice-President Network & Capacity Management
• Chad Rolstad, Vice-President of Human Resources and Chief Culture Officer
• Oscar Augusto Del Cueto Cuevas, KCSM President, General Manager and Executive Representative

Pat Ottensmeyer, KCS President and CEO, has agreed to continue to be an advisor to Mr. Creel through the remainder of 2023 to ensure continuity on key initiatives predominantly involving the combined company and Mexico

CP completed its US$31 billion acquisition of KCS on Dec. 14, 2021. Immediately upon the closing of that acquisition, shares of KCS were placed into a voting trust which has ensured that KCS operates independently of CP during the regulatory review process. Until CP exercises control pursuant to the STB decision of March 15 and the Voting Trust is dissolved, CP and KCS will continue to operate independently.

Headquartered in Calgary, CPKC will be the first railway connecting North America. While remaining the smallest of six U.S. Class 1 railroads by revenue, the combined company will have a much larger and more competitive network, operating approximately 20,000 miles of rail, employing close to 20,000 people. Full integration of CP and KCS is expected to happen over the next three years.