After partnering with Fortress Investment Group in 2014 and leading the transformation of the former Montreal, Maine & Atlantic Railway into the CM&Q, President and CEO John E. Giles will assume the duties of Executive Chairman. Chief Operating Officer Ryan Ratledge will succeed Giles as President and CEO.
Giles will continue to lead initiatives supporting CMQ’s strategic positioning for growth and investment, including long-term planning, market positioning and acquisitions.
Ratledge, a 22-year railroad veteran, began his career on BNSF, rising quickly through the operating ranks before joining RailAmerica in 2007. While at RailAmerica, he held a variety of positions that included General Manager of the Puget Sound & Pacific Railroad, GM of the Indiana & Ohio Railway; and Vice President-Midwest Region. Ratledge joined CM&Q in 2014, “where he and his team have dedicated themselves to retaining and developing existing and new business, while partnering with connecting carriers to optimize routes and improve pricing and service for CMQ customers,” the railroad said.
“It is a tremendous honor to continue what John began at CM&Q,” Ratledge said. “I am excited to be in this role. CM&Q is a great team of talented people who provide critical services to our customers. I am extremely encouraged by our business momentum and our future prospects and look forward to leading CMQ into this next chapter of our success.”
“The promotion of Ryan as my successor is a natural progression and is well-deserved,” Giles said. “He is a highly capable leader with a wealth of rail industry experience who will continue to propel the organization forward. I am confident that Ryan will excel in his new role and I look forward to continuing to work with him in the years ahead.”
CM&Q was Railway Age’s 2016 Regional Railroad of the Year.