FORT WORTH, Texas (AP) — The CEO who led BNSF railroad as it was sold to Warren Buffett's company is moving into the chairman's role, and another executive will be promoted to lead the company.
The Fort Worth, Texas, based railroad announced the executive changes Wednesday.
BNSF's Chairman and CEO Matt Rose will become executive chairman in January. Chief Operating Officer Carl Ice will be promoted to President and Chief Executive Officer.
The railroad said Rose will focus on long-term strategic planning while Ice focuses on day-to-day operations.
Buffett, who is Berkshire Hathaway's chairman and CEO, praised Rose and Ice and said BNSF has exceeded his expectations since Berkshire bought the railroad in 2010.
Some Berkshire investors have speculated that Rose may be a candidate to eventually succeed the 83-year-old Buffett as CEO.