Eastern Railroad Discussion > Hunter Harrison?

http://www.trainorders.com/discussion/read.php?15,3798960



Edited 1 time(s). Last edit at 07/26/15 18:55 by wabash2800.

Here is the official word on Hunter Harrison's health issues that caused him to miss the recent analysts' conference call, from a CP Form 6-K filing with the SEC:

"Concerning Mr. Harrison’s health, Mr. Harrison recently had stents implanted in order to improve circulation and reduce cramping in his legs. In addition, Mr. Harrison is recovering from a mild bout of pneumonia which has restricted his travel. His full recovery is expected in the coming weeks. He remains actively engaged in the company’s business, but elected not to travel to Calgary to participate in this morning’s earnings call."

Also, the recent resignation of two members of CP's board was related to the public handling of the resignation of Stephen Tobias, not any policy disagreements:

"On July 3, 2015, CP director Stephen Tobias notified CP Board Chairman Gary Colter that he was prepared to resign from the board at a date of the board’s choosing.

In consultation with Krystyna Hoeg, the Chair of the Nominating and Governance Committee, Mr. Colter caused the company to issue a press release stating that Mr. Tobias had resigned from the board as of June 29, 2015. The company has subsequently corrected this error.

Mr. Colter caused this press release to be issued without consulting with the board and without seeking board action to accept Mr. Tobias’ offer to resign.

. . . [irrelevant text omitted]. . . 

The CP board is committed to the highest standards of corporate governance, and strives to be exemplary in this respect. Consistent with this philosophy, Mr. Colter and Ms. Hoeg offered to resign in light of how this issue was handled. The board unanimously accepted their resignations."

nothing minor, I hope

I'm trying to figure out the Stephen Tobias deal. It appears to be a real screw-up.

Is this the same Stephen Tobias that was with NS?

Gary



ts1457 Wrote:
-------------------------------------------------------
> I'm trying to figure out the Stephen Tobias deal.
> It appears to be a real screw-up.

mully Wrote:
-------------------------------------------------------
> Is this the same Stephen Tobias that was with NS?
>
> Gary

Yes.

Here is an article about it:

http://www.wsj.com/articles/canadian-pacific-railway-cuts-2015-outlook-as-results-miss-expectations-1437487668

I do not know Steve Tobias but know people who do and speak highly of him as a creative railroader. Could it be that EHH felt threatened by his talents? EHH appears to me to be the type of 'manager' that needs to be in total control. Many years ago i had a similiar situation, at a lower management level of a major Eastern RR. The boss was threatened by anything that did not have his 'stamp' on it. Fortunately i was able to switch jobs, to marketing, for a lower grade but slightly higher salary, working for people that appreaciated me, and I learned a lot about the other side of the railroad biz, and it was more rewarding. Somehow i survived to retirement.

I'm sure if Mr Tobias wants to stay in this game he will find several other opportunities. CP might be the looser, as I am seeing in my stock holdings.