Ackman gains majority on CP Rail board as third director steps down

CALGARY — Canadian Pacific Railway says Tony Ingram has resigned as a director, the third departure from the CP board since the Calgary-based company’s annual meeting in May.As a result of the departures and the recent addition of Hunter Harrison as director and chief executive officer of the company, the nominees put forward by Bill Ackman’s Pershing Square have a majority on the 14-member board of directors.Ingram had been a member of two CP board committees — one that oversees safety, environment and operations and one that oversees management resources and compensation.The company said it didn’t intend to fill the vacancy created by Ingram’s departure. read more