Canadian Pacific Railway has selected the first woman to head the board of directors of the country’s second-largest railway.

Isabelle Courville has been designated to replace Andrew Reardon at the Calgary-based company’s annual meeting in May, according to a proxy circular.

An independent director since 2013, Courville is one of four women on CP’s nine-member board.

The former Hydro-Quebec executive is also currently a member of the boards at SNC-Lavalin and Laurentian Bank.

On the markets Wednesday, The TSX lost more ground, one day after the Trudeau Liberals unveiled their federal budget.

The exchange was off by 20 points, lower for a second straight day.

There was a broad-based rise in Canadian energy stocks as oil continues to add value,  rising 1.4 per cent to close at $59.83 US a barrel.

The  Canadian dollar higher by 11/100ths of a cent closing at $0.7516 U.S.

Gold fell $4.80 to close to $1,301.