Claude Mongeau is a Canadian railroad executive who served as the president and chief executive officer of Canadian National Railway (CNR) from January 1, 2010, to July 1, 2016. He succeeded Hunter Harrison . While serving as president of CN, he worked to mend strained relationships with the railway's customers and partners by establishing various service agreements. He currently serves on the board of directors at Norfolk Southern Railway .
16-563: Mongeau ( pronounced [mɔ̃ʒo] ) is a French-language surname. Notable people with the name include: Claude Mongeau , Canadian railroad executive France Mongeau (born 1961), Canadian educator and poet Michel Mongeau (1965–2010), Canadian ice hockey player Michel Mongeau (actor) (c.1946–2020), Canadian actor Serge Mongeau (born 1937), Canadian physician, writer, publisher and politician Tana Mongeau (born 1998), American Internet personality and model Topics referred to by
32-508: A 73% increase in mainline derailments, which The Globe and Mail described as a "deterioration" of its safety record. As a result, Mongeau's bonus was reduced. During his overall tenure, operating ratio declined from 63.6% to 55.9%. He stepped down in 2016 due to throat cancer. Chief Financial Officer Luc Jobin replaced him. Mongeau, who has served as an independent director on the Norfolk Southern board of directors since 2019,
48-651: A given level of traffic. The result is an often substantial decrease in railroad operating ratios and other financial and operating metrics at the cost of less-reliable service (particularly to smaller customers), long-term capacity issues, and possibly increased derailments and other safety risks associated with longer trains and crew fatigue. Harrison first introduced PSR at the Illinois Central Railroad (IC), where he became CEO in 1993. He implemented it at Canadian National after they acquired IC in 1998. After retiring from Canadian National, Harrison
64-401: A look at his tracks and facilities. The company's chairman David McLean said of it, "It gives you some idea of what kind of a guy he is." In his role, he was credited for implementing a customer-centric based PSR ( precision schedule railroading ) approach. Mongeau's promotion to CEO resulted in the resignation of several senior executives. Four years into his tenure, the company experienced
80-704: Is different from Wikidata All article disambiguation pages All disambiguation pages Claude Mongeau Claude Mongeau was born in Montreal, Quebec. He attended McGill University Desautels Faculty of Management, the Institut Supérieur des affaires (France), and the Université du Québec à Montréal . Mongeau began his railroad career when he joined CN in 1994. He held the positions of vice-president of strategic and financial planning, and assistant vice-president of corporate development. He
96-511: Is typically eliminated on shipping lanes and origin-destination pairs that have low traffic levels. Intermodal terminals have been consolidated, with the railroad relying on trucks for the last hundred miles. Fewer workers are needed, even with higher traffic volumes. As a result, over 20,000 railroad workers were laid off in 2019. The Surface Transportation Board estimates large freight carriers employed 30% fewer workers in 2022 as compared to 2018. PSR advocates claim that shippers benefit in
112-521: The audit committee investigation, the Financial Post wrote a story critical of full-time CEOs serving on the boards of directors of other companies, calling out Mongeau by name. Precision railroading Precision railroading or precision scheduled railroading ( PSR ) is a concept in freight railroad operations pioneered by E. Hunter Harrison in 1993 and has since been adopted by nearly every North American Class I railroad . It shifts
128-631: The focus from older practices, such as unit trains , hub and spoke operations, and individual car switching at hump yards to emphasizing point-to-point freight car movements on simplified routing networks. Under PSR, freight trains operate on fixed schedules, much like passenger trains, instead of being dispatched whenever a sufficient number of loaded cars are available. In the past, intermodal trains and general merchandise trains operated separately; under PSR they are combined as needed, typically with distributed power . Inventories of freight cars and locomotives are reduced and fewer workers are employed for
144-415: The long run from reduced costs and more reliable schedules. However, PSR has been criticized as being focused on short-term financial benefits at the expense of long-term capacity. In particular, Precision Scheduled Railroading is impacting safety due to increased train length, up to three miles (5,000 meters) in many cases. This leads to a higher risk of derailments as well as crew stress and fatigue due to
160-589: The manufacturing, retail, and financial services sectors. His career started in Europe with Bain & Company , a leading American consulting firm. Mongeau was recognized as one of Canada's top 40 executives under 40 by the Financial Post Magazine in 1997. In 2005, an independent committee of leading Canadian business figures named him Canada's CFO of the Year. On April 26, 2017, CN announced that
176-522: The same term [REDACTED] This disambiguation page lists articles associated with the title Mongeau . If an internal link led you here, you may wish to change the link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=Mongeau&oldid=1242250648 " Categories : Disambiguation pages Disambiguation pages with surname-holder lists French-language surnames Hidden categories: Pages with French IPA Short description
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#1732781073064192-487: The training centre would be named after Mongeau. Claude Mongeau was president and CEO of Canadian National Railway from 2010 to 2016, previously serving as CFO for almost a decade. He rose through the ranks during the years that CN moved from "the worst railroad to the very best," he told shareholders. When he started, he spent several months on the tracks wearing safety gear, working as a "Railroader in Training" to get
208-482: Was appointed as the chairman of the board in 2024. Mongeau's new role as chairman of the board also includes chairing the Executive Committee, reflecting his time in the railway industry. His appointment comes during a critical time for Norfolk Southern in managing the aftermath of the 2023 East Palestine, Ohio, derailment . Mongeau was a member of the board and audit committee of SNC-Lavalin while he
224-467: Was appointed executive vice-president and chief financial officer in October 2000. Before joining CN, Mongeau was a partner with Groupe Secor, a Montreal-based management consulting firm providing strategic advice to large Canadian corporations such as Bombardier and Bell Canada . He also worked in the business development unit of Imasco Inc., a diversified holding company with subsidiaries operating in
240-540: Was recruited to take over leadership of the Canadian Pacific and implemented precision railroading there. In March 2017, he was appointed CEO of CSX Transportation and began implementing PSR on its large network, but he died eight months later. Precision railroading has been criticized on many fronts. Shippers complain about poorer service and delays. Railroad workers have raised concerns about safety due to reduced inspections and staffing. Under PSR, service
256-505: Was working full-time as the CEO of Canadian National. While he was on the board at SNC-Lavlin, the company was caught paying bribes to government officials in Libya , amounting to $ 48 million over a decade. While on the audit committee, Mongeau helped oversee an investigation into the scandal, leading to the resignation of the CEO and the company being charged with fraud and corruption. During
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