Kansas City Southern Names Shoener President

Replaces Haverty, who will remain chairman and CEO. Company also OKs buy of 30 GE locomotives.

KANSAS CITY, Mo. (AP) - Transportation holding company Kansas City Southern said late Tuesday it named Chief Operating Officer Arthur L. Shoener to the additional role of president, replacing Michael R. Haverty, who remains chairman and chief executive.

Shoener also was elected to the company's board of directors. He will serve on the board until its 2008 annual shareholders meeting, at which point he will be eligible for nomination by the board, Haverty said in a statement.

Shoener will continue as president and CEO of the Kansas City Southern Railway Company, will oversee Kansas City Southern de Mexico operations as vice chairman of the KCSM board and will lead the shared services organization at Kansas City Southern.

In other news, Kansas City Southern's board approved the acquisition of 30 GE Transportation Systems ES44AC locomotives to be delivered to Kansas City Southern de Mexico in late 2006 and early 2007, and 30 EMD SD70ACe locomotives to be delivered to Kansas City Southern Railway by the end of the third quarter of 2007.