RailAmerica splits chairman, CEO posts

RailAmerica splits chairman, CEO posts

RailAmerica Inc., the shortline and regional rail operator, said it is splitting its chairman and chief executive positions, in an effort to improve corporate governance.

In a press release Friday, the transportation holding company said William G. Pagonis, formerly vice chairman of the board and chairman of the corporate governance and nominating committee, will now serve as chairman of the full board of RailAmerica, based in Boca Raton, Fla.

Pagonis, 63, is currently the senior vice president-head of supply chain for retailer Sears Roebuck & Co.

Gary O. Marino, 59, will continue as chief executive and president.

Charles Swinburn, 62, currently a member of the compensation and government relations committees, will chair the corporate governance and nominating committee. Pagonis resigned from his old post on the compensation committee.

John Sullivan, 79, will take Pagonis's spot on the compensation committee.