CN Rail CEO steps down as the company seeks to ‘energize’ leadership
Canadian National Railway (CN Rail) has announced the abrupt departure of CEO Luc Jobin effective immediately.
The company has said that it will now look to find a permanent replacement who will ‘energize the team’. In accordance with these changes, CN Rail’s Chief Marketing Officer and Executive Vice-President, Jean-Jacques Ruest, has been named as the company’s CEO on an interim basis.
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“The Board believes the company needs a leader who will energize the team, realize CN’s corporate vision and take the company forward with the speed and determination CN is known for,” said Board Chairman Robert Pace.
“Mr Ruest is well known to customers and investors, and is well positioned to focus the company and its very experienced and proven team of railroaders to rapidly address operational challenges during the transition.”
The leadership reshuffle is part of the company’s strategy of remaining competitive through innovation, whilst also enhancing its operational and customer service capabilities – an area that the company has struggled with in recent times due to high demand and insufficient network resilience, coupled with severe weather conditions.
“CN must accelerate execution of the innovation strategy articulated at our Investor Day last June,” said Pace. “The Board is confident this remains the right course to restore and retain industry-leading metrics and best in class customer service.”
In the aim of achieving this, CN Rail has announced that interim CEO Ruest has already outlined plans to improve the company’s Western Canadian Grain movement to clear backlogs across its networks.
“The entire CN team has a sense of urgency and is fully focused on getting it right for farmers and our grain customers, regaining the confidence of Canadian businesses, and protecting Canada’s reputation as a stable trade partner in world markets,” Ruest said.
