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5/26/2004



Rail News: Railroading People

RailWorks appoints List president/CEO, Campbell CFO



RailWorks Corp. recently named Raymond List president and chief executive officer, and Ken Campbell, chief financial officer.

List previously served as president and CEO of Kaiser Engineers — where he led a successful turnaround in the late 1980s — GVG Inc., Cohr Inc., ICF Technology and The Venture Fund of Washington. He also operated his own management consulting business.

Campbell succeeds CFO Ken Bauer, previous president of MTA Long Island Rail Road, who now will serve as president of RailWorks' National Transit Group. Ben D'Alessandro and Bill Donley will continue to serve as presidents of the New York City Transit Group and Track Products & Services Group, respectively.

During the past seven years, Campbell has helped turn around a number of businesses while acting as a consultant. He previously served as CFO of Kaiser Engineers, where he worked with List.

The recent senior management changes follow RailWorks officials' efforts to recapitalize with the help of principal shareholder MatlinPatterson Global Opportunities Partners. Under the recapitalization, the supplier eliminated $64 million in debt, postponed for two years interest on $81 million in debt and created a working capital facility up to $30 million.


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