“The board’s governance committee has been working closely with both Andy and Isabelle on a smooth transition. We are very proud to have our first woman as chair of the railroad,” Rebecca MacDonald, chair of CP’s corporate governance and nominating committee, said in a statement.
Reardon, who joined the board in May 2013 and became chairman in July 2015, told CP he intended to retire after the company’s annual meeting on May 7, 2019.
A rail industry veteran for four decades, Reardon served as president, chief executive, and chairman of TTX Co., the railcar leasing company, from 2001 to 2008. He previously served as TTX’s vice president of law beginning in 1992.
“I am proud to have been associated with CP, its management and board of directors during a period of great growth and positive change,” Reardon said in a statement. “I wish CP continued success going forward and have no doubt this group of world-class railroaders will continue to deliver.”
Reardon, 72, was among the close friends of the late E. Hunter Harrison, who led CP from July 2012 until January 2017.
“We will miss Andy after he steps down in May of 2019, and on behalf of the 13,000-strong CP family, we thank him for his service and dedication,” CEO Keith Creel said in a statement. “Under Isabelle’s direction, the board remains in good hands and we look forward to writing the next chapter of the CP story.”
Courville, who has degrees in law and engineering physics, joined the CP board in May 2013.
Courville, 55, will step down as chair of the board of the Laurentian Bank of Canada in April 2019.
From 2007 to 2013, Courville was president of Hydro-Québec Distribution and Hydro-Québec TransÉnergie.
Courville was active for 20 years in the Canadian telecommunications industry, where she served as president of Bell Canada’s Enterprise Group and as president and CEO of Bell Nordiq Group.
It is believed that Courville will hold the distinction of being the first woman to head a Class I railroad board of directors.