CP's Erceg steps down, Velani named interim CFO

Canadian Pacific Executive Vice President and Chief Financial Officer Mark Erceg resigned from his post effective today.

Erceg, who has been on the job for about 16 months, is leaving the railroad to assume the role of CFO for a U.S.-based company listed on the New York Stock Exchange, according to a CP press release. CP did not identify Erceg's new employer, where his role will include not only finance but information systems.

"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."

Erceg was "a big part of CP's senior leadership team and will be missed," said Harrison, CP's chief executive officer.

Nadeem Velani has been named CP's interim VP and CFO. He joined the company in March 2013, and most recently served as VP investor relations. Prior to joining CP, Velani spent 15 years at CN, where he served in financial planning, sales and marketing, and investor relations.