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Good-bye, E. Hunter Harrison. Hello, Claude Mongeau. Last Wednesday, CN Chairman David McLean acknowledged the contributions of Harrison, the outgoing president and chief executive officer who’ll retire on Thursday, and welcomed incoming chief exec Mongeau.

"On behalf of CN's board, I would like to thank Hunter for the outstanding leadership and service that he has provided to this company,” said McLean in a prepared statement. “His innovative Precision Railroading model and tireless dedication has led to the creation of a great North American railroad, and will leave this company well-positioned for future success.”

Harrison, 65, became CN's president and CEO on Jan. 1, 2003. He previously served as executive vice-president and chief operating officer. In April, CN’s board chose Mongeau to succeed Harrison on Jan. 1, 2010.