Canadian National Railway CEO Luc Jobin Steps Down
By Austen Hufford
The chief executive of Canada's biggest railway operator has left the company abruptly, leaving it facing "immediate operational and customer service challenges," according to its board.
Luc Jobin become chief executive of Canadian National Railway Co. in July 2016.
In a statement Monday morning, the company's board said high demand and insufficient network resiliency, as well as bad winter weather, has led to issues since the fall of last year. Mr. Jobin is leaving effective immediately.
Canadian National, based in Montreal, has launched a search for his successor. Chief Marketing Officer Jean-Jacques Ruest will be interim president and chief executive officer until a replacement is found.
The company has a network of about 20,000 miles of railway track, covering Canada and the U.S.'s Midwest and south.
Mr. Jobin joined the company in June 2009 as chief financial officer.
The company reaffirmed its profit guidance for the year and said it would spend $3.2 billion Canadian dollars ($2.47 billion U.S. dollars) on capital investments.
Write to Austen Hufford at email@example.com
(END) Dow Jones Newswires
March 05, 2018 09:15 ET (14:15 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.