This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Kansas City Southern Announces Planned Transition Of Michael R. Haverty From Executive Chairman To Non-Executive Chairman Of The Board

Kansas City Southern (KCS) (NYSE:KSU) today announced, in furtherance of its long-term succession planning, Michael R. Haverty will transition from his current position of executive chairman and employee of the Company, to non-executive chairman of the board of directors and will also become chairman of the executive committee of the board effective September 30, 2013.

“I advised the board yesterday that it was time to step away from being an executive of the Company in what has been a well-executed succession plan,” Haverty said. “It was three years ago the first of this month that I moved up to executive chairman and Dave Starling became KCS’s chief executive officer. We have a strong, experienced management team now. Plus this year marks my 50 th anniversary of starting in the railroad industry as a switchman/brakeman in Atchison, Kansas, so the timing is appropriate to transition to non-executive chairman at the end of next month,” Haverty continued.

Haverty will remain on the Board of Directors, a position he was elected to by the shareholders at the May 3, 2012 Annual meeting, and will continue to serve as Chairman of the Board, a position he was elected to by the board at the May 2, 2013 Annual meeting. Starling will continue as KCS’s Chief Executive Officer and President, and also as a member of the board, a position he was elected to by the shareholders at the May 2, 2013 Annual meeting.

Headquartered in Kansas City, Mo., KCS is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, 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’s 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.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs