CP Rail names mark Erceg new cfo

For the second time in less than two years Canadian Pacific Railway Ltd. has appointed a chief financial officer from outside the rail industry. The Calgary-based company announced Monday that Mark Erceg will replace outgoing CFO Bart Demosky, effective May 18. Erceg comes from doormaker Masonite International Corp., where he had been chief financial officer since 2010. Before that, Erceg spent 18 years at consumer products company Procter & Gamble Co. “After a comprehensive search, it was clear that Mark was the right individual for the job,” CP chief executive Hunter Harrison said in a statement. “Mark has the breadth of experience necessary to spearhead the continued growth of CP’s business and play an integral part alongside the executive team, employees and the board in driving the company forward and continuing to enhance shareholder value.” Demosky will leave CP on May 31 after only a year and a half in the job. He joined the railway from Suncor Energy Inc., where he had been CFO since 2009.