- Sault Ste. Marie

Peter Cresswell is stepping down as president and chief executive officer of Algoma Central Corp. (ACC). In his 11 years at the helm, he guided ACC into becoming the largest Canadian shipping company on the Great Lakes with 29 self-unloading carriers, bulk freighters and tankers. The corporation, which employs 1,300 people, maintains its head office in Sault Ste. Marie and its executive offices in St. Catharines. Cresswell will take a seat as deputy chair on the board of directors. His replacement is Tim Dool, of Sault Ste. Marie, ACC's vice-president marine division since 1992.