Business Context and Reporting Period
This Form 6-K filing by Canadian Pacific Railway Limited (and Canadian Pacific Railway Company) covers the month of March 2006, with a release date of March 30, 2006. The company is a transcontinental carrier operating a 14,000-mile rail network connecting principal centers in Canada and the U.S. Northeast and Midwest regions, with alliances extending reach to Mexico. The company is marking its 125th anniversary in 2006.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report is a current event disclosure rather than a financial results statement.
Material Changes
The primary material change disclosed is a significant executive leadership transition:
- Resignation: Michael T. Waites, Executive Vice President and Chief Financial Officer, resigned effective April 14, 2006, to join another Canadian corporation.
- Appointment: Brian W. Grassby, Vice-President and Comptroller, was appointed Acting Chief Financial Officer effective immediately.
Guidance, Outlook, and Management Commentary
CEO Rob Ritchie thanked Mr. Waites for his contributions since joining the company in 1997. Mr. Grassby, who joined CPR in 2001, will continue in his current role as Vice-President and Comptroller while assuming the responsibilities of Acting CFO. The filing contains no financial guidance, outlook, or discussion of risks and contingencies beyond the personnel change.
Investor Verification Checklist
- Confirm the effective date of the CFO transition (April 14, 2006).
- Verify the background and tenure of the new Acting CFO, Brian W. Grassby.
- Monitor upcoming quarterly filings for any impact of this leadership change on financial reporting or strategic direction.
- Check for any subsequent announcements regarding a permanent CFO appointment.