Central Maine & Quebec Announces Promotions

BANGOR, Maine, Nov. 28, 2016 /PRNewswire/ -- Central Maine & Quebec Railway (CMQ) (www.cmqrailway.com) is pleased to announce the evolution of responsibilities of two of its senior leaders. After partnering with Fortress Investment Group (FIG) in 2014 and leading the transformation of the former Montreal, Maine & Atlantic Railway to the CMQ, John E. Giles has elected to transition from the role of president and chief executive officer and assume the duties of executive chairman, effective January 1, 2017.

Giles will continue to lead initiatives supporting CMQ's strategic positioning for growth and investment, including long-term planning, market positioning and acquisitions.

Giles and the Fortress team have selected Chief Operating Officer Ryan Ratledge to succeed Giles as president and CEO.

Ratledge, a 22-year railroad veteran, began his career on the 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 and Pacific Railroad; general manager of the Indiana and Ohio Railway; and vice president - Midwest Region.

Ratledge joined CMQ 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.

Ratledge said, "It is a tremendous honor to continue what John began at CMQ. I am excited to be in this role. CMQ 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."

Giles said, "The promotion of Ryan as my successor is a natural progression and is well-deserved. He is a highly capable leader with a wealth of rail industry experience and 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."

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SOURCE Central Maine & Quebec Railway