Thursday, August 08, 2013

KCS succession plan continues on-track

Written by  William C. Vantuono, Editor-in-Chief
Kansas City Southern on Thursday, Aug. 8 announced, “in furtherance of its long-term succession planning,” that Michael R. Haverty will transition from his current position of Executive Chairman and employee of the company, to Non-Executive Chairman of the Board of Directors and will also become Chairman of the Executive Committee of the board effective Sept. 30, 2013.

“I advised the board yesterday that it was time to step away from being an executive of the company in what has been a well-executed succession plan,” Haverty said. “It was three years ago the first of this month that I moved up to Executive Chairman and Dave Starling became KCS’s CEO. We have a strong, experienced management team now. Plus this year marks my 50th anniversary of starting in the railroad industry as a switchman/brakeman in Atchison, Kan., so the timing is appropriate to transition to Non-Executive Chairman at the end of next month.”

Haverty will remain on the Board of Directors, a position he was elected to by the shareholders at the May 3, 2012 Annual Meeting, and will continue to serve as Chairman of the Board, a position he was elected to by the board at the May 2, 2013 Annual Meeting. Starling will continue as KCS’s CEO and President, and also as a member of the board, a position he was elected to by the shareholders at the May 2, 2013 Annual Meeting.