16 replies to this topic

[jis]

David Gunn did not leave Amtrak of his own accord. He was actively ejected. So duration of his stay, which was about middling as the longevity of Amtrak bosses go, is not really an indicator of much. Kummant was known to be a place holder and it is actually amazing how long he lasted.

 

Depending on how things go between Mr. Moorman and the Board and the various other political players in the Amtrak game, he could be out real quick either of his own accord or of the political establishment, or he could stick around for quite a while. It is hard to tell. We will get a every good indication on how things are going after a year when we learn how much of the possible maximum performance bonus he actually earned, assuming that he lasts that long of course.

 

The transition date is of course set. It is the 1st of September. I am carefully watching who of the second level among the executives hang around and who make hasty exits and eventually who are pushed out and who are retained. That usually gives a pretty good indication of where things are likely going, as far as reading tea leaves go.

Edited by jis, 20 August 2016 - 01:39 PM.

[CNJRoss]

U.S. House of Representatives Transportation and Infrastructure Committee news release, 8/20:

 

Shuster & Denham Statement on Selection of Wick Moorman as Amtrak CEO

 

Washington, DC, August 20, 2016

Transportation and Infrastructure Committee Chairman Bill Shuster (R-PA) and Railroads, Pipelines, and Hazardous Materials Subcommittee Chairman Jeff Denham (R-CA) released the following statement following the announcement that Charles “Wick” Moorman, former Chairman, President, and CEO of Norfolk Southern, has been selected as the new CEO of Amtrak:

 

“This is promising news from Amtrak.  We encouraged the passenger railroad to search for candidates with the vision and management skills to successfully implement new reforms and improve performance, and Wick Moorman has the necessary qualifications.  He knows the railroad business extremely well, and we believe he is capable of running Amtrak like a business, rather than a bureaucracy.  This will be essential to improving U.S. passenger rail service, and fostering a more business-like structure at Amtrak was our goal in the rail provisions of the FAST Act.  We appreciate the service and dedication of Joe Boardman, and look forward to continued improvement at Amtrak under Wick’s leadership.”

 

Shuster and Denham sent this letter to Amtrak’s chairman of the board in February, in regard to the search for a new CEO.

 

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[CNJRoss]

Trains magazine newswire, 8/19:

Wick is it

Long time Norfolk Southern chairman and CEO to take Amtrak reins

 

WASHINGTON — Charles "Wick" Moorman will be Amtrak's next president.

In a release sent to employees mid-morning on Friday and announced publicly by Noon Eastern time, Amtrak officials say that Moorman will take over from President Joe Boardman on Sept. 1.

Positive comments about Moorman and his abilities flowed from railroad organizations and agencies within an hour of the announcement.

 

Wick Moorman, Amtrak President-elect

TRAINS: Jim Wrinn

 

Continue here.

[CNJRoss]

The Wall Street Journal, 8/19:
 

Amtrak Names New CEO

 

Charles ‘Wick’ Moorman, who retired from Norfolk Southern last year, to succeed Joe Boardman at the national passenger railroad

 

Amtrak is naming Norfolk Southern Corp. veteran Charles “Wick” Moorman as its next chief executive as the national passenger railroad confronts big projects amid growing demand.

 

Mr. Moorman will succeed Joe Boardman, who is due to retire this fall as president and chief executive officer, a post he has held for eight years.

 

Mr. Moorman, who served as Norfolk Southern’s chairman and CEO before retiring last year, is expected to serve as a “transitional” leader of the passenger railroad, Amtrak Chairman Anthony Coscia said. Amtrak didn’t immediately make Mr. Moorman available for comment Friday.

 

SNIP

 

Mr. Moorman is expected to start Sept. 1, earning a salary of $1 a year, with an annual bonus of $500,000 tied to performance goals, Mr. Coscia said.

 

More here.

[CNJRoss]

Railway Age, 8/19:
 

Wick Moorman named Amtrak chief executive

 

Amtrak’s next President and Chief Executive Officer is an experienced and deeply respected Class I freight railroader who brings more than 40 years in railroading to the position: Charles W. “Wick” Moorman, who recently retired as Executive Chairman of Norfolk Southern Corp.

 

Railway Age’s 2011 Railroader of the Year will take over Amtrak’s throttle on Sept. 1, 2016, on a $1 per year salary plus an annual bonus of $500,000 tied to performance goals. Moorman succeeds current CEO Joe Boardman, who announced his intention to retire last fall.

 

Moorman is only the second Amtrak chief executive with practical railroad experience since the legendary W. Graham Claytor, Jr., who ran Norfolk Southern predecessor Southern Railway from 1967 to 1977, retired from Amtrak in 1993 after 11 years. He was named Railroader of the Year in 1989. David Gunn, who began his career with the Santa Fe Railway in the 1960s, ran Amtrak from 2002 to 2005.

 

Continue here.

[CNJRoss]

The Baltimore Sun, 8/30:

 

Commentary

The right leader for Amtrak

 

by Rush Loving

 

Amtrak has a railroader as its president again. Can Wick Moorman rise to the challenge?

 

Amtrak has been a financial orphan since it was born out of the bankruptcy of Penn Central 45 years ago. Passenger rail does not — cannot on most routes — make money, so Congress created Amtrak to take over the passenger trains. The new company got no support from many political leaders, especially Republicans, who saw the railroad as a safe harbor for the unions.

 

Amtrak never received permanent funding as a line item in the federal budget. Every time it has needed money, the company has had to go hat-in-hand to Congress. Moreover, only four men with railroad experience have ever headed Amtrak. Most of the rest, including Amtrak's retiring president, have had political backgrounds. Now the company's board has appointed a railroader as its new president — Charles "Wick" Moorman, a soft-spoken Mississippian who used to head Norfolk Southern.

 

SNIP

 

Mr. Moorman understands finance and is the ideal choice for the task of raising the billions that will be needed to build two new tubes under the Hudson River to replace a storm-damaged tunnel that was built a century ago. He must oversee a multi-billion-dollar project to turn the Northeast Corridor into a 180-mile-per-hour high-speed line. Moreover Amtrak needs annual funding to cover its operating deficits and to provide capital for upgrading tracks and trains outside the Northeast Corridor.

 

Rush Loving Jr., a former associate editor at Fortune magazine, has written about transportation for five decades. His most recent book on the railroad industry, The Well Dressed Hobo (Indiana University Press), was published this spring.

 

More here.

[CNJRoss]

Trains News Wire, 9/1:

 

Wick's open letter to Amtrak employees

Amtrak can be the 'leading rail passenger carrier worldwide' Moorman says

 

EDITOR'S NOTE: Trains News Wire obtained a copy of Amtrak President and CEO Charles "Wick" Moorman's letter to employees. The letter is presented in unedited form.

September 1, 2016
Fellow Amtrak colleagues,

My name is Wick Moorman, and it is a pleasure and a privilege for me to be joining you as your new CEO.

I want to start my time at Amtrak by saying how honored I am to follow Joe Boardman. I’ve known Joe for many years, and his work at Amtrak and FRA has left us a strong and useful legacy to build on. During his eight years in leading the company, Amtrak delivered record ridership and revenue levels, while making critical investments in our assets and our people to prepare for future growth. That success is a testament to the strength of the entire Amtrak team, and to Joe’s commitment to leaving Amtrak stronger than when he arrived. That’s what I hope to accomplish myself as your new CEO, as we work together to make Amtrak a safer, more efficient, and modern company, that’s growing our business and delivering increasing value to our customers and the nation.

Let me tell you a little bit about myself, and why I have chosen to come to Amtrak.  .  .  .

 

 

Continue here.