KCS Names Patrick J. Ottensmeyer as President and Chief Executive Officer
May 10 2016 - 4:23PM
Business Wire
Kansas City Southern (KCS) (NYSE:KSU) today announced that
effective July 1, 2016, Patrick J. Ottensmeyer will succeed David
L. Starling as the Company’s Chief Executive Officer. Mr.
Ottensmeyer will also keep the title of President, a position he
assumed on March 1, 2015.
This transition is the central component of KCS’ comprehensive
executive succession plan. As part of the plan, Mr. Starling will
serve as Senior Advisor to the Chief Executive Officer, beginning
on July 1, 2016 until his retirement on December 31, 2016. Mr.
Starling will also remain a member of the KCS Board of Directors
until May 2017. Mr. Ottensmeyer will join the Company’s Board of
Directors upon becoming Chief Executive Officer.
“The Board is extremely pleased to announce Pat Ottensmeyer as
the Company’s new Chief Executive Officer,” stated Robert J.
Druten, Chairman of the Board of Directors of Kansas City Southern.
“Pat has served in several leadership roles within the Company,
most recently as its President. The Board firmly believes Pat is
the right person with the right experience and skills to lead KCS
and help the Company capitalize on its tremendous long-term growth
opportunities.”
“The Board is also confident that the succession plan it
developed, along with the close working relationship between Dave
Starling and Pat Ottensmeyer, will result in a seamless transition
without disruption to the superior performance of the Company,”
added Mr. Druten.
Mr. Ottensmeyer, 59, joined Kansas City Southern in 2006, as its
Executive Vice President and Chief Financial Officer. In 2008, he
was named Executive Vice President of Sales & Marketing, and
named President in 2015.
“Pat’s extensive financial and marketing background, coupled
with the leadership he has demonstrated over the past year in
strengthening the Company’s rail operations, makes him the ideal
individual to direct KCS in the years ahead,” stated David L.
Starling. “In addition, his relationships with customers,
investors, other railroad executives, and employees in both Mexico
and the U.S., will be a tremendous asset as KCS seeks to translate
its abundant business opportunities into sustained long-term
growth.”
“The Board appreciates the service and performance of Dave
Starling as the Company’s Chief Executive Officer over the last six
years,” stated Mr. Druten. “We are also pleased that he will be
staying on as an employee throughout the remainder of 2016, and as
a member of the Board until May 2017. KCS will certainly benefit
from his insight and advice during that time. The performance of
KCS during his tenure as CEO was unprecedented, and much of the
Company’s success can be attributed to Dave’s stewardship. The
Board fully expects that Pat will continue the same pursuit of
excellence in the times ahead.”
Headquartered in Kansas City, Mo., Kansas City Southern (KCS)
(NYSE: KSU) is a transportation holding company that has railroad
investments in the U.S., Mexico and Panama. Its primary U.S.
holding is KCSR, serving the central and south central U.S. Its
international holdings include Kansas City Southern de Mexico, S.A.
de C.V., serving northeastern and central Mexico and the port
cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent
interest in Panama Canal Railway Company, providing ocean-to-ocean
freight and passenger service along the Panama Canal. KCS’ North
American rail holdings and strategic alliances are primary
components of a NAFTA Railway system, linking the commercial and
industrial centers of the U.S., Mexico and Canada.
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version on businesswire.com: http://www.businesswire.com/news/home/20160510006893/en/
KCSWilliam H. Galligan,
816-983-1551bgalligan@kcsouthern.com
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