07:22 AM EDT, 03/20/2024 (MT Newswires) -- Canadian Pacific Kansas City ( CP ) said Wednesday that John Orr has stepped down as executive vice president and chief transformation officer of the company.

Orr will join Norfolk Southern as chief operating officer.

In exchange for certain considerations, Canadian Pacific Kansas City ( CP ) has agreed to a waiver of Orr's non-competition agreement to allow him to work for Norfolk Southern.

The companies have signed an agreement in connection with the waiver of Orr's non-competition agreement, which includes a one-time waiver fee of US$25 million plus certain operational and commercial considerations related to the Meridian Speedway and the Meridian Terminal, which will expand competition and unlock additional value related to CPKC's proposed Meridian & Bigbee Railroad acquisition.

Norfolk Southern has also agreed to temporally limit no-hire and non-solicitation restrictions for a short list of employees of CPKC. Orr will remain subject to his non-solicitation restrictions.