NEW YORK — Burlington Northern Santa Fe Corp., the No. 2 U.S railroad operator, on Thursday said Chairman Robert Krebs will retire today in a planned transition, according to a wire service.
Chief Executive Matthew Rose will assume the chairman position, the company said. Rose has been been CEO since Dec. 2000. Krebs, who has lead Burlington Northern since 1995, will also retire from the company’s board effective April 17.
Shares in Fort Worth, Texas-based Burlington Northern fell 86 cents to $29.99 in early afternoon trading on the New York Stock Exchange. Union Pacific Corp.(NYSE:UNP – news) is the largest railroad operator in the U.S.