Canadian Railroads > CN CEO announces retirement

Under pressure from TCI after the failed merger with KCS: https://finance.yahoo.com/news/canadian-national-railway-says-ceo-211724608.html

Elliott Management, another activist firm, also announced it owns a "substantial' position.

TCI owns "more than 5%", Elliott owns less than TCI

Posted from Android

I am at a loss to understand how a fund that owns just five percent of CN stock can have so much control and influence over the management of the railroad.

I believe Canadian law allows share owners holding at least 5% of shares to request a special meeting, propose directors to stand at the next voting etc.

Posted from Android

JJ is perhaps a year younger than me. I pulled the pin two and a half years ago so he is definitely at the retirement threshold. JJ is a genuinely nice guy and I can well imagine he simply has no desire to wage a prolonged battle with these activist numb nuts. It’s almost certainly better for his and his families mental health to say the hell with it and pull the pin.

I would do the same thing were I in his position. Let the younger folks fight this one!

CW

Posted from iPhone