Canadian National Railway Co. names Tracy Robinson as new chief executive

MONTREAL — Canadian National Railway Co. has named Tracy Robinson as its new president and CEO to succeed J.J. Ruest.

CN says Robinson, the first woman to lead the 103-year-old company, will step into the top spot on Feb. 28 as Ruest departs following the failed takeover attempt of U.S. railway Kansas City Southern last year.

Robinson is joining the company from TC Energy, where she served as an executive after spending 27 years at CN rival Canadian Pacific Railway Ltd. The Montreal-based company says Ruest will stay on in an advisory role until March 31.

The appointment came as CN reported its fourth-quarter profit rose compared with a year ago and the railway raised its quarterly dividend 19 per cent to 73.25 cents per share.

The railway reported a fourth-quarter profit of nearly $1.2 billion or $1.69 per diluted share, up from $1.02 billion or $1.43 per diluted share a year ago. Revenue totalled $3.75 billion, up from $3.66 billion.

On an adjusted basis, CN says diluted earnings per share increased to $1.71 from $1.43, beating expectations of $1.53 per share, according to financial markets data firm Refinitiv.

This report by The Canadian Press was first published Jan. 25, 2022.

Companies in this story: (TSX:CNR, TSX:CP)

The Canadian Press

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