Jan. 9 (Bloomberg) -- Canadian Pacific Railway Ltd.’s board supports Chief Executive Officer Fred Green, whom the company’s largest investor has recommended replacing, the chairman said today.
“We are fully, we are unanimously behind our CEO Fred Green and his management team,” Chairman John Cleghorn said today in a telephone interview.
William Ackman of Pershing Square Capital Management LP, which holds a 14 percent stake in Canadian Pacific, has proposed ousting Green and appointing former Canadian National Railway Co. CEO Hunter Harrison as his successor.
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