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Green, 5 directors resign from CP

Thursday, May 17, 2012

Canadian Pacific Railway said Thursday morning that Fred Green, its president and chief executive officer, and five other directors have resigned. The resignations were announced hours before CP shareholders meet at 8 a.m. in Calgary, Alberta for their annual meeting, culminating a proxy fight in which the U.S. hedge fund Pershing Square Capital Management has sought control of the railroad. William Ackman, CEO of Pershing Square, has been critical of the co...

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