L.B. Foster: Bauer to Retire, Kasel to Lead

L.B. Foster on June 25 reported the retirement of President and CEO Robert P. Bauer. Effective July 21, he will be succeeded by 18-year company veteran John F. Kasel, who currently serves as Senior Vice President and COO.

Also on July 21, Bauer will step down as a Director of the L.B. Foster Board, a role Kasel will take on. Bauer has led the Pittsburgh, Pa.-based company since 2012.

To ensure a seamless transition, L.B. Foster said Bauer would remain with the company through Dec. 31, 2021 as a Senior Advisor to Kasel.

Kasel joined the company in 2003 as Vice President-Operations and Manufacturing. He has since held roles of increasing responsibility, including Senior Vice President-Operations and Manufacturing, Senior Vice President-Rail Products & Services, and Senior Vice President-Rail & Construction. Kasel was promoted to his current position in December 2019.

“This announcement follows a CEO succession-planning process developed and executed by the Board of Directors and Bob,” Chairman of the Board Lee B. Foster said. “The Board is particularly pleased that we have our next CEO talent within the company. John is a proven leader, and over the course of his 18 years with the Company, I have watched him take on increasing responsibilities across all of our business lines. The Board is excited about the opportunities the Company has identified to create shareholder value. During the past year, John has been instrumental in leading strategic planning initiatives, making this an opportune time for him to assume the CEO role.

“On behalf of the Board, I want to thank Bob for his commitment and dedication to serving this Company as CEO. He has guided us through some challenging times during his tenure, and has created a more technology and solutions oriented company positioned to take advantage of the digital railroad and the need for infrastructure modernization. We are pleased that he will stay on for the remainder of the year to allow for a smooth transition.”

“It has been an honor and a privilege to serve as L.B. Foster Company’s CEO for nearly a decade now.” Bauer said. “I want to express my appreciation to the team of people who take on the challenges and opportunities every day in an effort to build a great future. We have extraordinary talent and a deep sense of teamwork that make this a great company to lead. I am very pleased that the Board of Directors has recognized John Kasel’s accomplishments and his ability to lead this Company going forward. I am confident that his leadership and focus on execution and strategy will reward shareholders.”

“I am grateful for the opportunity to lead such a dynamic global company,” Kasel said. “I have a deep appreciation of the hard work and dedication our employees have exhibited to build a great foundation for growing shareholder value.”

Earlier this year, L.B. Foster restructured, creating two primary business units: Rail Technologies & Services and Infrastructure Solutions.