CP, KCS elect new chairmen

Canadian Pacific has elected Gary Colter as chairman to succeed Paul Haggis, who concluded his term as chair but will continue to serve as a director and will join the audit and finance committees. Both Colter and Haggis have served on the board for two years.

Colter is president of CRS Inc., a corporate strategy and restructuring firm that he founded in 2002. He previously served KPMG Canada in various capacities for 34 years. Colter led KPMG's Canadian and global financial advisory services practices and retired as vice chairman in 2002.

"On behalf of my fellow board members, I would like to thank Paul for his strong leadership," said Colter in a press release. "The board remains committed to working with management and the Canadian Pacific team and all stakeholders, as the company continues to move forward with its exciting transformational journey."

Meanwhile, Kansas City Southern's board elected Robert Druten as chairman and appointed Antonio Garza Jr. as a member of the executive committee. Druten previously was executive vice president and chief financial officer of Hallmark Cards Inc. He retired in August 2006.