Mr. Paul C. Hilal is a Partner at Pershing Square Capital Management, L.P. He joined the firm in 2006. From 2002 to 2005, Mr. Hilal was the Managing Partner of Caliber Capital Management, LP. From 1998 to 2001, he ran the information technology sector investment program at Hilal Capital Management. From 1992 to 1997, he was a Principal at Broadview Associates, providing mergers and acquisitions advisory services to information technology companies. Mr. Hilal joined the Board of Directors of Canadian Pacific Railway Limited (NYSE:CP; TSX:CP) in 2012. Mr. Hilal served as a director of Ceridian Corporation (NYSE:CEN) in 2007, prior to its sale to the Thomas H Lee Company. From 1999 to 2000, he served as the Chairman of the Board and Interim Chief Executive Officer of Worldtalk Communications Corporation (Nasdaq:WTLK). He is a member of the Board of the Grameen Foundation, an umbrella organization that helps microfinance institutions around the world enable the poor to become financially self-sufficient through micro-lending. Mr. Hilal received an A.B. degree in Biochemistry from Harvard College in 1988, a J.D. from Columbia University School of Law in 1992, and an M.B.A. from Columbia University School of Business in 1992.