Masonite CFO bolts to Canada

TAMPA -- After five years with Masonite International Corp., Mark Erceg is stepping down to join Canadian Pacific.

“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,” says E. Hunter Harrison, Canadian Pacific's CEO, in a release.

Erceg will join the Calgary, Alberta-based rail transportation company May 8, replacing Bart Demosky. Canadian Pacific trades on the NYSE under the symbol CP, and reported first quarter revenue last month at a company record $1.67 billion, along with a 33% jump in net income to $320 million.

That's more than double the size of Masonite, a company that also trades on the NYSE, under the symbol DOOR. Masonite reported $434.5 million in first quarter revenues Monday, and a net loss of $31.1 million. Masonite announced Erceg's departure with a single sentence tied into its financial report with the U.S. Securities and Exchange Commission.

Erceg joined Masonite in June 2010 after four years at Procter & Gamble, including two years as general manager for global investor relations, according to his LinkedIn profile. He started his career there as director of western European fabric care.

Masonite employs more than 7,000 people, and manufactures hardboard doors made from steam-cooked and pressure-molded wood fibers. The company was founded by William Mason, who patented his Masonite wood in 1924.

Canadian Pacific services primarily Canada and the northern United States, with direct links to eight ports, including Vancouver and Montreal.