CN appoints Jobin to board, announces new roles for Cory, Houle

CN's board announced yesterday that incoming President and Chief Executive Officer Luc Jobin has been been named a board director. Jobin will take over the company's top executive position on Friday.

Jobin will succeed Claude Mongeau as president and CEO. As a board director, Jobin replaces Mongeau, who announced earlier this month that he would step down from his post due to health reasons.

CN's board will continue to be composed of 11 directors, 10 of whom are independent of company management, according to a CN press release.

Meanwhile, Jobin announced two appointments yesterday: Mike Cory has been named executive vice president and chief operating officer; and Ghislain Houle, executive vice president and chief financial officer. Their appointments go into effect Friday.

Cory started working for CN in 1981 at the Symington Yard Diesel Shop in Winnipeg, Manitoba. He rose through the operating ranks until reaching his current position of senior vice president of the western region, CN's largest region.

Houle joined CN in 1997 as chief of internal audit, has held a succession of increasingly senior financial positions and was most recently the company's vice president and corporate comptroller.

Cory and Houle will be based at CN's headquarters in Montreal.

"The high calibre of Mike and Ghislain is testament to the deep bench strength of our executive team," said Jobin.
 
Also as part of the management transition, Jim Vena will retire Friday as CN's executive vice president and chief operating officer.