Demosky to succeed Grassby as CP's CFO

Canadian Pacific has appointed Bart Demosky executive vice president and chief financial officer, effective Dec. 28. He will succeed Brian Grassby, who previously announced plans to retire at year's end.

Demosky has 25 years of senior financial, strategic, operations and risk management experience, and has served as CFO of Suncor Energy since 2009. He previously served the company as senior VP of business services, and VP and treasurer.

The effort to find Grassby's successor "was the most comprehensive North American CFO search process in my career, as management and the board recognized the importance of bringing in someone with the breadth of business experience and financial talent required to help lead this organization forward," said CP Chief Executive Officer E. Hunter Harrison in a press release. "In Bart, we believe we have found that individual."