Canadian National Railway Co CEO tells government to ‘step back’ from rail regulations

, Investment

CN Rail’s annual shareholder meeting emphasized the significant progress the railway has made since it was privatized 20 years ago.

MONTREAL — The CEO of Canadian National Railway Co. made an impassioned plea for less government involvement in the rail sector Tuesday, saying he hopes Ottawa “will have the courage to step back,” particularly when it comes to grain-shipping rules.

“I have a raspy voice, it’s not as strong as it used to be, but I believe I’m right,” Claude Mongeau said at the company’s annual meeting in Montreal, referring to the surgery he had last fall to treat a tumour in his larynx. Mongeau had his voice box removed and replaced with a prosthesis.

“Please don’t take us for granted. Reflect on what’s required, what’s right, and maintain the right policy framework on a go-forward basis. There will be many opportunities over the next year on both sides of the border to reflect on those words; I hope my voice carries loud enough.”


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