Cleghorn: "Canadian Pacific has a bright future."
Ackman; "We came in peace."
Ackman: "We're humbled by the overwhelming support."
Ackman introduces his slate, who each stand up. Rebecca MacDonald couldn't make it due to her own board meeting.
Ackman: "Look forward to a great future for a wonderful company."
Cleghorn asks if anyone still wants a ballot. No one raises hand.
Most of the 500 seats filled in Wildrose Ballman. Election of directors: 16 names.
16 nominees. Cleghorn declares CP nominations closed. Procedural. Ackman's alternative slate of 7 are all in. Green resigned, not at AGM.
Formal shareholder meeting ends. CP board meeting to begin shortly.
CP's revamped board of directors needs to discuss interim CEO and search for new CEO. Ackman has pushed for former CN boss Hunter Harrison.
9 CP incumbents George, Hoeg, Ingram, Kelly, Manley, Morgan, Paquin, Raisbeck, Richardson meeting with new CP directors from Pershing slate.
CP Rail board meeting has ended. Bill Ackman has left the building. Details coming down the track.
CP Rail needs "continuity of command." Interim CEO to be named, plus chairman to replace John Cleghorn.
Madeleine Paquin is acting chairwoman of CP Rail. Stephen Tobias is interim CEO, replacing Fred Green.
Paquin statement: "We are looking forward to working together to build value for our shareholders." #CanadianPacific
CP Rail's revamped board has search committee for hiring permanent CEO to replace Fred Green.
Interim CP Rail CEO Stephen Tobias is former Norfolk Southern chief operations officer.
Acting CP Rail chairwoman Madeleine Paquin is CEO of Logistec Corp., a cargo-handling firm.
Passenger can barely hear airline announcer for boarding and quips: "Can we at least get James Earl Jones to do the voice?"
