MONTREAL, April 29 /CNW Telbec/ - E. Hunter Harrison, president and chief executive officer of CN (TSX: CNR)(NYSE: CNI), announced today the appointment of Luc Jobin, C.A., as the executive vice-president and chief financial officer of the company effective June 1, 2009.
Jobin, 50, will be responsible for financial management and strategic planning at CN.
Jobin will succeed Claude Mongeau, whom the CN board of directorsrecently selected to become CN president and chief executive officer effective Jan. 1, 2010. Between June 1 and yearend, Mongeau will act as executive
vice-president, spending most of his time in the field broadening his knowledge of CN's network and operations before assuming his new duties at the beginning of next year.
Jobin was recently executive vice-president of Power Corporation of Canada (PCC), a diversified international management and holding company, with responsibility for overseeing PCC's portfolio of diversified investments.
Prior to joining PCC in 2005, he spent 22 years in a variety of financial and executive management positions with Imasco Limited and its Canadian subsidiary, Imperial Tobacco Canada Limited. Imasco, a major North American consumer products and services company, became a British American Tobacco Plc subsidiary in 2000. Jobin was president and chief executive officer of
Imperial Tobacco when he joined PCC.
Harrison said: "CN is pleased to appoint Luc Jobin as its new executive vice-president and chief financial officer. Luc is a seasoned corporate executive known for delivering sustainable corporate performance improvements and increased shareholder value. We look forward to Luc leading further gains in CN's strong financial record and helping to shape our strategic vision for the future."
Jobin obtained his Chartered Accountant Accreditation from the Canadian Institute of Chartered Accountants in 1983. He received his Diploma in Public Accountancy from McGill University in Montreal in 1982. He has been a member of the board of directors of Reynolds American, Inc. since 2008 and also serves on the boards of directors of two not-for-profit organizations in
Montreal.
To view Jobin's biographical notes, click
here.(http://www.cn.ca/documents/Media-News-Release/LJ_en.pdf)
Forward-Looking Statements
This news release contains forward-looking statements. CN cautions that, by their nature, forward-looking statements involve risk, uncertainties and assumptions. Implicit in these statements, particularly in respect of long-term growth opportunities, is the Company's assumption that such growth opportunities are less affected by the current situation in the North American and global economies. The Company cautions that its assumptions may not materialize and that the current economic conditions render such assumptions, reasonable at the time they were made, subject to greater uncertainty. The Company cautions that its results could differ materially from those expressed or implied in such forward-looking statements. Important factors that could cause such differences include, but are not limited to, the effects of adverse general economic and business conditions, including the current deep recession in the North American economy and the possibility of a global economic contraction in 2009, industry competition, inflation, currency fluctuations, changes in fuel prices, legislative and/or regulatory developments, compliance with environmental laws and regulations, various events which could disrupt operations, including natural events such as severe weather, droughts, floods and earthquakes, labor disruptions, environmental claims, investigations or proceedings, other types of claims and litigation, and other risks detailed from time to time in reports filed by CN with securities regulators in Canada and the United States. Reference should be made to "Management's Discussion and Analysis" in CN's annual and interim reports, Annual Information Form and Form 40-F filed with Canadian and U.S. securities regulators, available on CN's website, for a summary of major risks.
CN - Canadian National Railway Company and its operating railway subsidiaries - spans Canada and mid-America, from the Atlantic and Pacific oceans to the Gulf of Mexico, serving the ports of Vancouver, Prince Rupert,B.C., Montreal, Halifax, New Orleans, and Mobile, Ala., and the key metropolitan areas of Toronto, Buffalo, Chicago, Detroit, Duluth, Minn./Superior, Wis., Green Bay, Wis., Minneapolis/St. Paul, Memphis, and Jackson, Miss., with connections to all points in North America. For more information on CN, visit the company's website at www.cn.ca