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Canadian National Railway Down After Vena Withdraws From Race For CEO Post

Shares of Canadian National Railway Company (CNI) are falling more than 6% in the morning trade on Monday.

Canadian National Railway today said Jim Vena, who was backed by CN's second largest shareholder, TCI Fund Management Limited, is no longer in the race for the post of CEO.

CN was considering Vena for the position till he withdrew himself from the process on Sunday.

"CN's Board remains committed to finding the right leader to continue our ambitions to build the premier railway for the 21st century and deliver immediate and long-term value to all shareholders, while retaining our commitment to safety, customer service and the communities we serve, the company said.

CNI, currently at $119.15, has been trading in the range of $100.66- $136.22 in the past 52 weeks.

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