By Robb M. Stewart

Canadian National Railway Co. said Monday it expects to unveil a new chief executive in January as the railway operator's search committee continues to interview candidates for the role.

CN said the committee is searching for a "world-class executive" to lead the company, and has identified a number of candidates.

It added that it conducted multiple rounds of interviews with former CN employee Jim Vena, who late Sunday notified CN's that he is no longer interested in the role and has withdrawn from the process. That thwarts the ambitions of shareholder TCI Fund Management Ltd., which has called for a special meeting of CN investors in March and was pushing for Mr. Vena to be appointed CEO.

In October, CN said CEO and President Jean-Jacques Ruest was expected to retire at the end of January and step down from the board. The decision came after major shareholders CIFF Capital UK LP and the Children's Investment Master Fund, acting via investment manager TCI, urged a new leader for CN as part of a strategic push and nominated Mr. Vena for the post and CN lost out to rival Canadian Pacific Railway Ltd. in a two-way fight to buy Kansas City Southern.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

12-20-21 0757ET