John Cleghorn, chairman of the board at Canadian Pacific Railway, is seen on a video monitor as he addresses the company's annual meeting in Calgary - 17 May 2012 Jeff McIntosh.

19 May 2012

Ackman's CP Slate Wins Nearly 90 Percent of Boardroom Proxy Vote

Calgary Alberta - Final results of the hotly-contested boardroom proxy contest at Canadian Pacific Railway Ltd. show that the dissident slate of directors backed by activist Bill Ackman won close to 90 percent of votes tendered for the annual meeting on Thursday.
 
According to a statement released by CP late Friday night, Mr. Ackman and his six boardroom nominees individually garnered between 83 percent and 93 percent of the submitted votes. Mr. Ackman won the greatest number of votes with 92.7 percent.
 
The nominees put forward by CP earned a sharply lower share of the votes, ranging from 48 percent for director Linda Morgan to 33 percent for Madeleine Paquin, who was named the railway's acting chairperson after the meeting.
 
CP's statement did not include vote results for six directors, including former chairman John Cleghorn, who agreed not to stand for re-election the day before the annual meeting after early vote results showed they had insufficient shareholder support.
 
CP Vote Breakdown
 
Bill Ackman 92.73%
 
Stephen Tobias 91.09%
 
Paul Haggis 90.67%
 
Rebecca MacDonald 89.06%
 
Gary Colter 88.07%
 
Paul Hilal 86.97%
 
Anthony Melman 83.30%
 
Linda Morgan 48.07%
 
David Raisbeck 47.26%
 
John Manley 47.12%
 
Rick George 46.08%
 
Richard Kelly 43.23%
 
Hartley Richardson 43.10%
 
Krystyna Hoeg 41.28%
 
Tony Ingram 37.99%
 
Madeleine Paquin 32.89%
 
Jacquie McNish and Brent Jang.