Pershing Square adds Steve Tobias to nominees for CP’s board

Pershing Square Capital Management, L.P., added North American railroad operations executive, Stephen Tobias, as the seventh nominee for the Canadian Pacific Board of Directors.

Tobias is a 40-year veteran of Norfolk Southern Corporation, having formerly served as the COO and vice chairman of the railroad.

“My nearly 40 years of railroad operations experience enable me to make a real contribution to this project,” said Tobias. “I am excited about this opportunity to help unlock the enormous potential of a railroad as historic and iconic as the Canadian Pacific Railway. One can’t overemphasize the importance of a culture of execution at a railroad. Hunter Harrison and the Nominees for Management Change will put execution first and will own the results with absolute and full accountability.”

Pershing Square’s nominees, who will be proposed at the May 17th annual meeting of Canadian Pacific shareholders, are: Bill Ackman, Gary F. Colter, Paul G. Haggis, Paul C. Hilal, Rebecca MacDonald, Dr. Anthony R. Melman and Stephen Tobias. Seasoned Canadian business executives MacDonald, Melman, Haggis and Colter have extensive experience in leading national enterprises.

On of Tobias’ accomplishments was being named Railroader of the Year by Railway Age Magazine In 2008.