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Southwest Signal Engineering Co. recently announced James Mayer will assume the role of chairman, effective immediately, and Assistant Vice President of Communications Kash Krishnarao will succeed him as president and chief executive officer. Krishnarao also has purchased the company from Mayer.

During the next several years, Mayer and Krishnarao will implement a succession plan that includes attracting and retaining talent, as well as develop a strategic plan.

"Many companies fail in the second generation because the founder failed to plan for his own succession," said Mayer in a prepared statement. "Now is the time for me to begin this succession process."

Southwest Signal provides engineering, construction, communication and project management services to the railroad industry.