MONTREAL – Ian Barry Scott, former Chairman and CEO of Canadian Pacific Railway, died in Montreal April 17. He was 90.
Born Feb. 2, 1930, Scott had a 45-year career with CP, culminating in being named chairman and CEO in 1985. He retired on Feb. 28, 1995, and was succeeded by Robert J. Ritchie. In retirement he pursued his railroad interests as a partner in various shortline railway ventures. He served as a director of a number of Canadian and U.S. corporations, and served most recently on the board of the McGill University Health Center in Montreal.
Under Scott’s tenure, CP significantly expanded its presence in the United States. In 1989, it moved to acquire 100% control of the Soo Line, after an employee leveraged buyout attempt failed to gain financing in 1989. With no other buyers, CP decided to take total control. In April 1990 Canadian Pacific acquired the remaining 44% of Soo stock that it hadn’t already owned. Today the former Soo routes, including the ex-Milwaukee Road Chicago-Twin Cities main line, provide CP with a shorter route than rival Canadian National from western Canada into the U.S and Chicago.
In 1991, CP completed the acquisition of the bankrupt Delaware & Hudson Railway, giving it a foothold in the Northeastern U.S. Canadian Pacific’s offer to buy the D&H for $35 million beat out five other bidders. CP gave the property a needed infusion of investment.
One of CP’s biggest accomplishments on Scott’s watch was the construction of the 9-mile Mount McDonald Tunnel, the longest in North America, in Canada’s Selkirk Mountains. Construction commenced in 1984, and the first revenue train passed through in 1988. Official inauguration ceremonies took place May 4, 1989. When it opened, Scott said: “This is the biggest thing the railway has done since the building of the transcontinental.”
Scott is survived by his three children and two grandchildren.
All before EHH.He accomplished alot to