(Calgary) Canadian Pacific Railway announced Friday that it will officially merge with the American Kansas City Southern on April 14 under a new name, Canadian Pacific Kansas City (CPKC).
The Calgary-based company said CP President and CEO Keith Creel will lead the new company, while CP’s Nadeem Velani will be its chief financial officer.
KCS President and CEO Pat Ottensmeyer will become an advisor to Mr. Creel until the end of 2023 to foster continuity.
It is expected that approximately 64,000 truckloads will be moved annually from North American highways to rail.
CP and KCS received the green light for the transaction from the U.S. Surface Transportation Board earlier this week, removing the final hurdle to closing the $31 billion deal signed in December 2021.