Canadian Pacific Railway (CP) has announced that its executive vice president and CFO, Mark Erceg, has resigned from his position effective Sept. 9.
Erceg was appointed to the CFO role in May 2015, and it is said that following his resignation Erceg plans to take on a U.S.-based CFO position at an unnamed New York Stock Exchange-listed company. Representatives say he will oversee matters relating to finance as well as information systems.
“While this was a difficult decision for me to make, I am truly proud of the work we have done in my tenure at CP,” Erceg said of his departure from the company. “Leaving at this time to pursue this exciting new opportunity is the right decision and I know CP, under the leadership of Hunter Harrison and Keith Creel, is well-positioned for continued success.”
The Class 1 has selected Nadeem Velani as it interim vice president and CFO. Officials say Velani joined the company in March 2013, having served most recently as vice president of Investor Relations.
Before he joined the CP staff, Velani worked for Canadian National Railway Co. for 15 years, holding roles in Financial Planning, Investor Relations, Marketing and Sales.
E. Hunter Harrison, CP’s CEO, called Erceg “a big part of CP’s senior leadership team,” adding that the company will miss Erceg’s presence.
“We wish him and his family well in their future endeavors and look forward to working closely with Nadeem as he assumes the role of CFO on an interim basis,” Harrison said.