The chief financial officer of Suncor Energy is moving to Canadian Pacific in about a month.
Bart Demosky’s resignation from Suncor is effective Dec. 27 and he’ll become CP’s chief financial officer the next day.
Demosky joined Suncor in 2006 as a vice-president and has been the company’s CFO since 2009.
He holds a degree in economics from the University of Calgary and is a graduate of the university’s management development program.
He’ll replace Brian Grassby, whose retirement from Canadian Pacific was announced previously.
Canadian Pacific says Demosky was selected after an extensive North American search and he’ll play a key role in strategic planning.
Suncor says it’ll announce a replacement for Demosky “in due course.”
Billionaire investor William Ackman won a proxy fight and installed a new chief executive at Canadian Pacific last year.
The company, Canada’s second-largest railway, said in October that Ackman had sold 6 million company shares, but his firm, Pershing Square, remains the biggest shareholder with a 10 percent stake.
Companies & investments Mentioned In This Article (4)
CP-N 148.18 0.625 % 419,735 Suncor Energy
SU-T 40.47 0.822 % 2,488,101 Suncor Energy
SU-N 36.73 0.879 % 2,538,867 Canadian Pacific Railway
CP-T 163.21 0.616 % 186,676