Canadian Pacific (CP) has announced that Mark Erceg, executive vice president and chief financial officer, is stepping down as chief financial officer, effective September 9. Nadeem Velani has been appointed interim vice president and chief financial officer.
Erceg will be returning to the United States to assume the role of chief financial officer at a U.S.-based NYSE-listed company, where his responsibilities will include both finance and information systems.
Velani, who joined CP in March 2013, most recently served as vice president investor relations. Before joining CP, Velani was employed for 15 years by Canadian National Railway Co., where served in financial planning, sales and marketing and investor relations roles.
“Mark was a big part of CP's senior leadership team and will be missed,” said CP Chief Executive Officer E. Hunter Harrison. “We wish him and his family well in their future endeavours and look forward to working closely with Nadeem as he assumes the role of CFO on an interim basis.”
“While this was a difficult decision for me to make, I am truly proud of the work we have done in my tenure at CP,” said Erceg. “Leaving at this time to pursue this exciting new opportunity is the right decision and I know CP, under the leadership of Hunter Harrison and Keith Creel, is well positioned for continued success.”