It plays hard between CN and CP, while the former president of CN, Hunter Harrison, is ready to leave his retirement to put himself at the head of the enemy. Faced with the threat, Canadian National has to stop paying the pension of $ 1.5 million per year of Mr. Harrison, as well as certain other benefits. Total envelope contested: $ 40 million. The company is now asking the court to approve its decision. The whole story began a few months ago when Pershing Square Capital entered the capital of the Canadian Pacific and began to demand change. Operating costs of CP are significantly higher than those of CN, and Bill Ackman, the head of Pershing, qu’Hunter Harrison believes would be able to lower them considerably faster than the current management. It remains to be seen, but, obviously, Mr. Harrison also believes, he did not hide his interest in returning as CEO. The former boss is now a consultant for Pershing personally and felt that its commitment to non-competition ended 31 December 2011. CN alleges in particular that acting as a consultant, he has violated. Pershing Square already is ready to take over the envelope of $ 40 million that could escape from his protégé. But why? It will be for the court to determine where the rights of all. Beyond the legal elements, however fortunately that ridicule does not kill, because Pershing Square may no longer have a foal. Mr. Harrison was in charge of CN 2003 to 2009. How can we seriously be leader of a company, retire, and three years later to the enemy in an attempt to rob his former team? The gesture rings false even the most ardent supporters of the capitalist system. The death row In fact, the motivation of Mr. Harrison might not be in the money. Rather in the ego. In this need to prove that we are still useful and capable. The need to perform another exploit. Even at age 67. Our editor emeritus, Jean-Paul Gagné, in whom we often find light, told us Tuesday that it is a phenomenon that had begun to observe for some time in some of his knowledge in retirement. For one of them, “retirement is on death row.” A state of idleness which is expected in a miserable idleness, the great reminder. It is true that when one was president of CN and occupied for great things, it may be necessary for large companies to escape the gloom.
A good lesson for all CEOs who are considering what they will do in retirement: the higher the status, the greater can be the misjudgment.