(The Associated Press circulated the following on June 28, 2010.)
KANSAS CITY, MO. — Kansas City Southern said Monday that David Starling, the railroad operator’s president and chief operating officer, will be promoted to CEO under a planned transition to replace current CEO Michael Haverty.
Haverty, also currently the chairman of Kansas City Southern, will hold the post of executive chairman beginning Aug. 1, when the board-approved transition is to take effect.
In that role, Haverty, 66, will focus on the company’s strategic direction and oversee long-term business decisions.
Starling, 60, will continue to hold the president’s title as well as becoming CEO, and will report to Haverty. Starling will have responsibility for oversight and management of company operations, as well as those of subsidiaries and affiliates.
Starling joined Panama Canal Railway Co., a Kansas City Southern affiliate, in 1999, and was named Kansas City Southern’s chief operating officer and president in June 2008.
Haverty said in a news release that Starling was named to those posts two years ago “with the thought in mind that he could succeed me as CEO. After two years, we are ready.”
Starling began his railroad career in 1971 with the St. Louis-San Francisco Railroad, and later worked for Burlington Northern. He also held positions at Mi-Jack Products and American President Lines before joining Panama Canal Railway in 1999.
Kansas City-based Kansas City Southern is a holding company with railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Co., serving the central and south-central U.S.
Kansas City Southern announced the leadership moves after its shares fell 66 cents, or about 1.7 percent, to close at $38.63.