In memoriam: Former Burlington Northern CEO Richard Grayson Sr. (12/3/2002)
12/3/2023Richard Grayson Sr., retired vice chairman of the former Burlington Northern Inc. (BN), died from complications of open-heart surgery on Nov. 27 at Missouri Baptist Hospital in suburban St. Louis. He was 81.
In 1941, Grayson followed in his father’s footsteps and joined the St. Louis-San Francisco (Frisco) Railway Co. — "a spunky regional," as the Grayson family characterized it in a prepared statement — serving as a brakeman. During the next 10 years, Grayson rose through the ranks, working as a conductor, dispatcher, trainmaster, assistant superintendent and superintendent.
He became the Frisco’s assistant general manager in 1956. From 1958 to 1960, the down-to-earth, straight-shooting Grayson ran Frisco Transportation Co., a trucking subsidiary. He returned to the railroad in 1960 as general sales manager; from 1964 to 1968, he served as vice president of operations. In 1969, Grayson was elected Frisco’s president and chief executive officer. In 1973, he was named chairman.
"On his watch, the Frisco was a much-admired model of lean, smart, Midwestern honesty, efficiency and profitability," Grayson's family said. "It was also a model of a warm, close-knit family corporate culture, although they didn’t use words like that back then.
After the 1980 BN-Frisco merger, Grayson was named BN’s CEO. In April 1983, he was promoted to chairman of the railroad, vice chairman of BN, the parent company, and CEO of BN’s newly formed Transportation Group, which at the time accounted for more than 80 percent of the company’s revenues and assets. He retired in December 1985.
Grayson served on the boards of many organizations and corporations, including General American Life Insurance, Laclede Gas, Civic Progress, United Way of Greater St. Louis, Barnes Hospital, Alton Box and Centerre Bancorporation.
He also was a trustee of Drury University in Springfield, Mo. As a "surprise birthday/retirement gift" to Grayson, Drury in 1985 received an endowment from BN to establish the Burlington Northern Chair of Business Administration in Honor of Richard C. Grayson, the Grayson family said.
Grayson is survived by Evelyn, his wife of 63 years; three children; six grandchildren; and a sister.
Source: Progressive Railroading Daily News