The interim leader of Canadian National Railway Co. is holding on to his job.
Jean-Jacques Ruest, who stepped in after the abrupt exit of Luc Jobin in March, has been named chief executive and president of CN Rail effective immediately.
Ruest, 63, is a 22-year veteran at CN Rail and previously served as the company’s executive vice-president and chief marketing officer.
CN Rail Chairman Robert Pace said that following a global search, the railway’s board of directors concluded that Ruest was the “right leader” for its innovation strategy.
“In J.J., we have the best. He brings vision, energy, and speed to the role,” Pace said in a release Tuesday. “J.J. brought the team together to tackle the immediate operational and customer service challenges the company was facing since the fall of 2017.”
Jobin had been CEO at CN since July 1, 2016, when he took over from previous boss Claude Mongeau. The company’s stock rose 27 per cent during Jobin’s tenure as chief executive.
CN did not directly address why Jobin was replaced when his departure was announced in March, but acknowledged operational setbacks it had experienced since the fall.
The company is set to report its second-quarter results Tuesday after markets close.
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