(The Associated Press circulated the following article on March 31.)
NEW YORK — Canadian Pacific Railway on Thursday said Chief Financial Officer Michael T. Waites has resigned and Comproller Brian W. Grassby fill serve as interim CFO.
Waites plans to step down April 14.
Grassby joined the company in 2001 as vice president and comptroller. The Calgary-based railroad operator said he will continue in his current role while temporarily taking on the responsibilities of finance chief.
Earlier this month, Canadian Pacific reaffirmed its earnings plan for the year. The company sees per-share profit of $3.60 to $3.85, compared with analysts’ consensus estimate of $3.21, according to Thomson Financial.
Shares of Canadian Pacific rose $1.31, or 2.7 percent, to close at $49.21 on the New York Stock Exchange. The stock has traded between $33.60 and $53 over the past year.