Joseph Boardman selected new CEO of Amtrak, for a one year term Options

[jis]

From Amtrak:

November 25, 2008
Amtrak Selects Transportation Industry Veteran as President & CEO

WASHINGTON – The National Railroad Passenger Corporation Board of Directors announced today that it has chosen Joseph Boardman, a nationally recognized transportation industry professional, to become president and chief executive officer of the company, effective November 26.

Boardman offers nearly 34 years of experience in the surface transportation industry at city, county, state, and federal government levels; most recently as the administrator at the Federal Railroad Administration.

You can read the full press release here.

[KevinKorell]

So with all the accollades that Joseph Boardman got from the Amtrak Board, why is he only an interim CEO? Why not just give him the title and save the money they are going to spend on a search for his "permanent" replacement?

And BTW "permanent" sounds like somebody is going to be in charge of Amtrak for a very long time, even after they pass away. Weekend at Bernie's, anyone?

[Sam Damon]

IMHO, this news also sounds suspiciously like Apple CEO Steve Jobs saying he was Apple's "interim CEO" upon taking the gig when he did.

Or maybe Boardman's confusing us by actually telling the truth. Not a common thing in DC, ya know...

[CNJRoss]

So with all the accollades that Joseph Boardman got from the Amtrak Board, why is he only an interim CEO? Why not just give him the title and save the money they are going to spend on a search for his "permanent" replacement?

Having a quickly appointed "interim" president is like a sports team appointing an interim head coach when the coach is fired. This clearly states who is in charge, and unquestionably gives them the necessary authority to run the team while the search is underway. Often, the interim becomes permanent at the end of the season. Joseph Boardman will be included in the search and may be the "permanent" choice. Many would perceive his position as the "interim" president as an advantage in the selection process, and the board will have the advantage of experiencing a working relationship with Boardman before making a "final" decision. One disadvantage is that some highly qualified candidates may remove themselves from the search if the "interim" remains in contention.

Conducting a search for this position at this level is prudent. Failure to conduct a "wide" search could be taken as a failure of the Amtrak board of directors to fulfill their fiduciary responsibility. The cost of the search is a reasonable and necessary expense to the organization.

Ross

[Dakguy201]

The "interim" title may very well be because the Board feels the incoming administration should be given the chance to provide their own input on who should be the permanent CEO. The Board seat belonging to the Secretary of Transportation will obviously have a new occupant, and Board member Hunter Biden might be considered as being very close to the new Administration.

As Mr. Boardman's current job is a Presidental appointment, he might very well have been out of work on January 20th anyway.