CALGARY—Canadian Pacific today announced that executive vice-president and chief financial officer Mark Erceg has stepping down from the position of CFO.
Erceg will be returning to the U.S. to assume the role of CFO at an unnamed U.S. company where his responsibilities will include finance and information systems.
Nadeem Velani will take over vice-president and CFO. Velani joined CP in March 2013 and most recently served as vice-president of investor relations. Prior to CP, Velani spent 15 years at Canadian National Railway Co. where he worked in a variety of positions.
“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,” said Erceg. “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.”
“Mark was a big part of CP’s senior leadership team and will be missed,” said E. Hunter Harrison, CP’s Chief Executive Officer. “We wish him and his family well in their future endeavours and look forward to working closely with Nadeem as he assumes the role of CFO on an interim basis.”