CN Rail CEO steps down, marketing chief at helm in interim

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(Reuters) – Canadian National Railway Co said on Monday Chief Executive Officer Luc Jobin would step down immediately. FILE PHOTO: Railcars stand idle at the Canadian National (CN) railyards in Edmonton February 22, 2015. REUTERS/Dan Riedlhuber The move comes as the railroad struggles to cope with a surge in demand and a harsh winter, which has affected its ability to deliver freight on time. Last month, customer Halliburton Co blamed CN Rail for frac sand delays. Canada’s largest railroad has appointed Chief Marketing Officer Jean-Jacques Ruest as interim CEO. The company’s shares have risen 27 percent since Jobin’s appointment as CEO in July 2016. The stock has lost more than 6 percent of its value this year. Reporting by John Benny in Bengaluru; Editing by Maju SamuelOur Standards:The Thomson Reuters Trust Principles.
Source: Reuters