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Yesterday, Watco Cos. L.L.C. announced it appointed Adam Inselbuch executive vice president and chief financial officer, effective July 11.

He most recently was managing director for South Street Ventures L.L.C. Inselbuch previously served Credit Suisse for 23 years, including a stint as managing director of investment banking, transportation and logistics.

Meanwhile, current EVP and CFO Rick Baden — who has held the post since joining the company in December 2004 — will assume the role of EVP and chief operating officer. He will be responsible for information technology, marketing, strategic analysis and international operations.

Baden previously was president and CFO of Pitt Plastics. He began his career in 1990 with Ernst & Young, where he worked for the Entrepreneurial Services Group that specializes in audit and advisory services.

“This addition and realignment, along with our continued focus on our customer first foundation principles, positions Watco for an exciting future of growth and improvement,” said Watco Chairman and Chief Executive Officer Rick Webb in a prepared statement.

Watco and its subsidiaries operate 23 short lines, 23 industrial contract switching facilities, 14 rail-car repair shops, four locomotive shops and 19 mobile mechanical shops. The company also manages 12 transload facilities, seven warehouses and one intermodal facility.