(Reuters) - BNSF Railway, the largest U.S. railroad, said on Wednesday that Matthew Rose, its executive chairman, will step down and retire from the company in April next year.
Rose had previously served as the company’s chief executive officer for over a decade after assuming the role in 2000, and will have held the executive chairman’s post for six years when he retires. [nBw31tp4Ta]
He was instrumental in the $35 billion-plus buyout of BNSF by Berkshire Hathaway in 2009, a deal touted as one of Berkshire’s most expensive acquisition till date.
“Under Matt’s management, BNSF has become a major source of profit and pride for Berkshire,” Warren Buffett, chairman of Berkshire Hathaway, said.
BNSF did not name Rose’s replacement.
Reporting By Aparajita Saxena in Bengaluru; Editing by Shailesh Kuber