CN’s Mongeau to Retire as CEO June 30

Canadian National President and CEO Claude Mongeau plans to retire from his post at the end of June, citing health reasons.

Mongeau took a six-month medical leave last year to seek surgical treatment for a rare type of tumor in his throat. He returned to work in January.

Canadian NationalHe will be succeeded on July 1 by Chief Financial Officer Luc Jobin.

“I was filled with joy returning at the helm earlier this year, but I gradually came to realize that it is difficult to fulfill such a demanding ‎role given my new condition as a laryngectomee,” Mongeau said in statement. “I sincerely thank the key members of my leadership team and my fellow CN directors for their understanding and support in the circumstances.”

His career at CN has spanned 22, including serving as CEO for the past 6.5 years and before that as chief financial officer for 11 years.

Jobin joined CN in 2009 as executive vice president and CFO, following a career as senior executive at Imasco, Imperial Tobacco, British American Tobacco and Power Corp.

He coordinated CN’s leadership team during Mongeau’s medical leave.

Mongeau is credited with helping to oversee CN’s acquisition of the Illinois Central, Bessemer & Lake Erie, Elgin, Joliet and Eastern, and other railroads that expanded CN’s North American network.

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