It only took RailAmerica Inc. two months to name a successor to company co-founder Gary Marino instead of an expected three to six months. And just as the short-line holding company split chairman and chief executive officer duties earlier this year, Marino's former position will be divided between two senior execs.
Yesterday, RailAmerica named Charles Swinburn CEO, effective Aug. 1, and promoted Executive Vice President and Chief Administrative Officer Don Redfearn — who had been serving as acting president since Marino retired as president and CEO in April — to president.
A RailAmerica board member for the past nine years, Swinburn most recently served as an attorney with Washington, D.C., law firm Morgan, Lewis & Bockius. He previously served as a U.S. deputy assistant secretary for transportation, held other positions at the U.S. Department of Transportation, and formed and led environmental remediation firm Rollins Field Services. Swinburn also served as a board member for Amtrak and a management committee member for Alaska Railroad Corp.
"We are fortunate to be able to appoint to the CEO position someone with Mr. Swinburn's broad experience as a business executive, government official, practicing attorney and Marine Corps officer," said RailAmerica Chairman Gus Pagonis in a prepared statement. "More importantly, because of Charlie's long service on the board, he knows the company and its personnel well -- he will hit the ground running."
A RailAmerica officer and director since 1992, Redfearn previously served as chief administrative officer and secretary.
"Don Redfearn has served as an officer and director of the company since its formation … [and] he has shown great ability to strategically build RailAmerica through the years," said Pagonis.
Meanwhile, RailAmerica's board appointed Douglas Nichols chairman of the Corporate Governance and Nominating Committee to succeed Swinburn, who also resigned as a Compensation Committee member.
Source: Progressive Railroading Daily News
