CN’s CEO abruptly leaves

Jean-Jacques Ruest will serve as interim president and chief executive officer of the Class I railway until a permanent replacement is hired.    Canadian National Railway Co. revealed Monday that CEO Luc Jobin has resigned, effective immediately.
   The Class I railway’s board has installed Jean-Jacques Ruest as interim president and CEO until a permanent replacement is hired. Ruest has been with the for 22 years, and served for the past eight years as executive vice president and chief marketing officer.
   “The board believes the company needs a leader who will energize the team,” said Board Chairman Robert Pace, in a statement.
   CN has been under increasing pressure to improve its performance. Since the fall of 2017, the railroad has struggled to meet increasing shipper demand with “insufficient network resiliency,” which the board said was further exacerbated by severe winter weather.
   An international search for a new CEO is currently underway, the company said.