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December 12, 2013 11:45 AM, EST
Carl Ice Named CEO of BNSF Railway
Mike Fuentes/Bloomberg News

Berkshire Hathaway Inc., parent company of BNSF Railway, has promoted Carl Ice to CEO of the freight railroad, replacing Matthew Rose, the company said.

Ice, a 34-year employee of BNSF, is currently chairman. The transition will become effective Jan. 1, the railroad said in a Dec. 11 statement.

“For over a decade, Carl has worked alongside me, and his assumption of the CEO title is a natural and well-deserved transition,” Rose said in the statement. “I am pleased for him and the organization, and the continuity he represents as he undertakes the leadership of this role.”

Rose will become executive chairman and work with executives over the next 10 years on long-term planning, BNSF said.

“I look forward to continuing BNSF’s success in improving safety, providing quality service and consistent growth,” Ice said.

Berkshire Hathaway, a holding company led by Warren Buffett, acquired BNSF in 2010. It was the company’s largest acquisition.

BNSF, which operates mainly in the Midwest and West, is among the largest contributors to Berkshire Hathaway’s earnings, Bloomberg News reported.