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Kansas City Southern has elected Henry Davis to its board. He will fill the seat of KCS President and Chief Operating Officer Arthur Shoener, who resigned from the board so the company could increase the number of independent directors without increasing the board's size.

President of Mexican investment firm Promotora DAC S.A. de C.V., Davis will seek re-election to the board at KCS' annual meeting to be held May 1.

He previously served as president, chief executive officer and vice chairman of Grupo Cifra, and was a director of Grupo Bimbo S.A.B. de C.V, Ixe Grupo Financiero S.A. de C.V. and Grupo Aeroportuario de Pacífico S.A.B. de C.V.

"With the importance of Kansas City Southern de México to our company as a whole, Henry's perspective, counsel and guidance will be very valuable as we strengthen ties with Mexico and develop new business opportunities in [the country]," said KCS Chairman and CEO Mike Haverty in a prepared statement.