Head of Calgary-based company earns more than $20 million

The head of Calgary-based Canadian Pacific Kansas City saw a big jump in pay last year.

Keith Creel, head of Canada’s second-biggest railway, received total compensation of $20.1 million, up 38 per cent from the previous year.

CPKC’s five top officers, including Creel, earned $63.5 million overall in 2023 compared with less than half that amount the previous year.

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The boost stemmed largely from share-based awards and cash bonuses.

It was a historic year for the company as it completed the merger of its operations with Kansas City Southern, a former U.S.-based railway, purchased in 2021.

The company touted the merger as making Canadian Pacific Kansas City (CPKC) the first single-line railway connecting the U.S., Mexico and Canada.

At rival Canadian National Railway Co., total compensation for its six senior executives decreased three per cent to $29.6 million, mainly due to lower bonuses after the Montreal-based company fell short of performance targets.

CEO Tracy Robinson’s total compensation was $14 million.

— with files from The Canadian Press