(KCS issued the following news release on November 9.)
KANSAS CITY, Mo. — Kansas City Southern (KCS or the Company) (NYSE: KSU) today announced that executive vice president and chief operating officer Gerald K. Davies will retire from the Company at the end of 2004. It is planned that Mr. Davies will continue with KCS after his retirement on a consulting basis to support the Company’s efforts to acquire full ownership of Grupo Transportacion Ferroviaria Mexicana, S.A. de C.V. (Grupo TFM). Also, subject to the approval of the U.S. Surface Transportation Board of KCS’ control of the Texas Mexican Railway, Mr. Davies will also help facilitate the seamless integration of that property with Kansas City Southern Railway.
Mr. Davies commented: “I have been planning my retirement for a considerable period of time, and I appreciate the support KCS has given me during this process. I am pleased with the progress made by KCS during my time here, and I am confident that the Company will soon achieve its goal of creating a powerful NAFTA rail franchise. I very much look forward to my continued association with the KCS.”
Mr. Davies’ transportation career began in 1970 with the United States Department of Transportation. From there he went on to hold various marketing, operating and finance positions within the railroad industry, including vice president of marketing at CSXT, senior vice president of marketing at Burlington Northern, and senior vice president marketing of Canadian National. He joined KCS in 1999.
KCS chairman, president and chief executive officer Michael R. Haverty stated: “Gerald has been a great asset to the Company. During his tenure, he has played an important role in KCS growing its U.S. revenues while also significantly increasing freight traffic between the U.S. and Mexico. He has been equally effective in his role as top operating officer as evidenced by the steady improvement in the Company’s key operating metrics to a point where we now rank among the industry’s best run railroads. We look forward to working with Gerald on the completion of our NAFTA rail strategy.”
KCS is currently in the process of searching for a senior executive candidate to manage all U.S. rail operations and expects to have the position filled around year’s end.
KCS is comprised of, among others, The Kansas City Southern Railway Company (KCSR), and equity investments in Grupo Transportacion Ferroviaria Mexicana, S.A. de C.V. (Grupo TFM), Southern Capital Corporation (Southern Capital), and Panama Canal Railway Company (PCRC).