Bill Ackman

And everyone on the board was an icon of Canada. You know, the chairman of the Royal Bank of Canada. You know, the head of the most important grain, privately held grain company. You know, sort of an important collection of, you know, big time Canadian executives. Here we were, you know, this is probably... about 13 years ago.

And everyone on the board was an icon of Canada. You know, the chairman of the Royal Bank of Canada. You know, the head of the most important grain, privately held grain company. You know, sort of an important collection of, you know, big time Canadian executives. Here we were, you know, this is probably... about 13 years ago.

And, you know, still maybe 44 year old from New York, not a Canadian, basically saying this is the worst run railroad in North America. And we bought 12% of the railroad at a really low price. And we brought with us to our first meeting, the greatest railroader ever, a guy named Hunter Harrison, who had turned around Canadian National. So we'd like, okay, we've got a great asset.

And, you know, still maybe 44 year old from New York, not a Canadian, basically saying this is the worst run railroad in North America. And we bought 12% of the railroad at a really low price. And we brought with us to our first meeting, the greatest railroader ever, a guy named Hunter Harrison, who had turned around Canadian National. So we'd like, okay, we've got a great asset.

And, you know, still maybe 44 year old from New York, not a Canadian, basically saying this is the worst run railroad in North America. And we bought 12% of the railroad at a really low price. And we brought with us to our first meeting, the greatest railroader ever, a guy named Hunter Harrison, who had turned around Canadian National. So we'd like, okay, we've got a great asset.

We've got the greatest railroad CEO of all time. He's come out of retirement to step in and run the railroad. And we brought him to the first meeting and they wouldn't even meet with him. And they certainly weren't going to consider hiring him. And that led us to a proxy contest.

We've got the greatest railroad CEO of all time. He's come out of retirement to step in and run the railroad. And we brought him to the first meeting and they wouldn't even meet with him. And they certainly weren't going to consider hiring him. And that led us to a proxy contest.

We've got the greatest railroad CEO of all time. He's come out of retirement to step in and run the railroad. And we brought him to the first meeting and they wouldn't even meet with him. And they certainly weren't going to consider hiring him. And that led us to a proxy contest.

Well, the key is we had to, one, come up with a group of directors who would be willing to step into a battle. Right. And we didn't want a bunch of New York directors or even American directors. We wanted Canadians. The problem was this was the most iconic company in Canada. And we wanted high-profile people. So we talked to all the high-profile people in Canada.

Well, the key is we had to, one, come up with a group of directors who would be willing to step into a battle. Right. And we didn't want a bunch of New York directors or even American directors. We wanted Canadians. The problem was this was the most iconic company in Canada. And we wanted high-profile people. So we talked to all the high-profile people in Canada.

Well, the key is we had to, one, come up with a group of directors who would be willing to step into a battle. Right. And we didn't want a bunch of New York directors or even American directors. We wanted Canadians. The problem was this was the most iconic company in Canada. And we wanted high-profile people. So we talked to all the high-profile people in Canada.

Every one of them would say, Bill, you're entirely right. This thing is the worst run of the road. It needs to be fixed. But, you know, I see John at the club. You know, I see him at the Toronto club. You know, I can't, you know, I can't do this, but you're totally right. Mm-hmm. And, uh, we had to, and that was the concern because you have to file your materials by a certain day.

Every one of them would say, Bill, you're entirely right. This thing is the worst run of the road. It needs to be fixed. But, you know, I see John at the club. You know, I see him at the Toronto club. You know, I can't, you know, I can't do this, but you're totally right. Mm-hmm. And, uh, we had to, and that was the concern because you have to file your materials by a certain day.

Every one of them would say, Bill, you're entirely right. This thing is the worst run of the road. It needs to be fixed. But, you know, I see John at the club. You know, I see him at the Toronto club. You know, I can't, you know, I can't do this, but you're totally right. Mm-hmm. And, uh, we had to, and that was the concern because you have to file your materials by a certain day.

You got to put together a slate. We needed a big slate because we knew that we had to replace basically all the directors. Uh, and then one, I spoke to, uh, a guy who was one of the wealthiest guys in Canada who was on the board at one point in time. And he said, uh, uh, Bill, I have an idea for you. There's this woman, Rebecca McDonald. Why don't you give her a call?

You got to put together a slate. We needed a big slate because we knew that we had to replace basically all the directors. Uh, and then one, I spoke to, uh, a guy who was one of the wealthiest guys in Canada who was on the board at one point in time. And he said, uh, uh, Bill, I have an idea for you. There's this woman, Rebecca McDonald. Why don't you give her a call?

You got to put together a slate. We needed a big slate because we knew that we had to replace basically all the directors. Uh, and then one, I spoke to, uh, a guy who was one of the wealthiest guys in Canada who was on the board at one point in time. And he said, uh, uh, Bill, I have an idea for you. There's this woman, Rebecca McDonald. Why don't you give her a call?

And I called Rebecca and she was the first woman to take a company public in Canada as CEO. And she was a kind of anti-establishment, not afraid to take on anything kind of person. And I called her, we had a great conversation. And she was in the Dominican Republic at her house. And I flew down to see her. And she said, yeah, I'm all in.

And I called Rebecca and she was the first woman to take a company public in Canada as CEO. And she was a kind of anti-establishment, not afraid to take on anything kind of person. And I called her, we had a great conversation. And she was in the Dominican Republic at her house. And I flew down to see her. And she said, yeah, I'm all in.

And I called Rebecca and she was the first woman to take a company public in Canada as CEO. And she was a kind of anti-establishment, not afraid to take on anything kind of person. And I called her, we had a great conversation. And she was in the Dominican Republic at her house. And I flew down to see her. And she said, yeah, I'm all in.