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TORONTO: Canadian Pacific Railway Ltd Chief Executive Fred Green resigned on Thursday, handing activist shareholder William Ackman a clear victory after a bruising proxy battle for control of Canada's second biggest railroad.
The company also said Chairman John Cleghorn, along with fellow directors Tim Faithfull, Edmond Harris, Michael Phelps and Roger Phillips will not stand for re-election, opening the door to nominees from Ackman's Pershing Square Capital Management to join the 16-member board.