KANSAS CITY, Mo.--(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.