Ackman off Canadian Pacific board, ends four-year tenure

By Svea Herbst-Bayliss

(Reuters) – Activist investor William Ackman left the board of Canadian Pacific on Tuesday, marking the end of a four-year tenure that helped overhaul the ailing railroad company and earn his hedge fund roughly $2.6 billion.

Canadian Pacific announced Ackman’s resignation almost exactly one month after his Pershing Square Capital Management sold its remaining 9.8 million CP shares, freeing up roughly $1.5 billion in cash to make other investments.

Ackman initially planned to stay on the CP board until next year, but stepped off now as the company was making other changes to the board by adding Jill Denham and …
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