Prentice makes appearance at CP annual meeting, coy on leadership plans

CALGARY - The CEO of Canadian Pacific Railway says Jim Prentice will resign his seat on the company's board of directors if he's successful in the Alberta Tory leadership race.

Hunter Harrison says he'd hate to lose Prentice, a former federal cabinet minister, but he wishes him success.

Prentice himself divulged little about his plans when approached by reporters following Canadian Pacific's (TSX:CP) annual general meeting.

He said he'll have more to say in the days ahead and for now he's enjoying work as a private citizen.

Harrison said Prentice's political ambitions are no secret and people are saying "congratulations" when he walks into the room.

Prentice is also a senior executive at the Canadian Imperial Bank of Commerce and has been working for Enbridge Inc. (TSX:ENB) to try to win First Nations support for the company's proposed Northern Gateway pipeline.