CP names Erceg new CFO

Canadian Pacific has appointed Mark Erceg executive vice president and chief financial officer, effective May 18.

Erceg, who will succeed Bart Demosky in the role, joins the Class I from Masonite International Corp., where he had served as executive VP and CFO since 2010. He has more than 20 years of financial management experience, CP officials said in a press release.

Demosky announced in February that he would leave the railroad on May 31. The decision to depart was made after careful consideration and much discussion with Chief Executive Officer E. Hunter Harrison, CP officials said at the time.

"I am honored to be joining such an innovative, forward-thinking and iconic company," said Erceg. "Under Mr. Harrison's leadership, CP has made tremendous progress since 2012 and I am excited to be part of the next chapter in the CP story."