Tracy Robinson takes over from Jean-Jacques Ruest, whom the railroad’s second largest shareholder, TCI, forced out following CN’s failed attempt to take over Kansas City Southern. Robinson’s appointment is part of a settlement to prevent a proxy fight between CN and TCI, which is led by British billionaire Chris Hohn. As part of the deal, TCI will get two board seats. (The Logic)

Talking point: Robinson will be the first woman to run the company. She joins CN from TC Energy, where she led the firm’s natural-gas pipelines business for Canada. Before that, she spent 27 years at CN’s rival railroad, CP. “She knows the railroad, she knows the network, she knows the competition, she knows CN and she’s passionate about railroading,” Ruest said in an earnings call Tuesday. This is the second time in recent history TCI has used its clout to push for change at CN. Last year, the firm’s shareholders voted overwhelmingly in support of TCI’s climate campaign pressuring CN to disclose carbon emissions and set a climate-impact plan.  News of the deal coincided with CN’s fourth-quarter financial results, in which it reported a 37 per cent jump in net income for 2021 compared to the year before.