January 6, 2020
North Carolina Railroad Company President Scott Saylor Announces Retirement Timeline
Today, the North Carolina Railroad Company announced that Scott Saylor, President and CEO since 2001, advised the Board of Directors of his plans to retire from the Company in July 2020. Saylor shared his decision in a written letter to the company’s Board of Directors. He is retiring following a 31-year tenure with the Company. Hired in 1989, Scott, a Forsyth County native, was the first employee of the Company in more than 100 years.
“It has been my honor and pleasure to serve the Company in a variety of roles and as President since 2001,” stated Saylor in the letter. “I greatly appreciate the many opportunities to work with such a dedicated Board and management team to move the Company forward during my 31 years with NCRR. I am proud of all that we have been able to achieve together, and I look forward to working with our Board of Directors in the leadership transition in the coming year.”
The achievements of the Company over Saylor’s tenure and the leadership of the Boards over that time include revaluation and negotiation of the North Carolina Railroad Company’s assets and properties under the 99-year lease with Norfolk Southern dating to 1895, and conversion into modern-era agreements with substantially higher rental; increasing the capital of the NCRR from several hundred thousand dollars to over $95 million; advancing the NCRR as a platform for track and infrastructure improvements that have positioned North Carolina as a leader in rail-served manufacturing projects, job creation, and passenger rail service; arranging for the stock buyout and recapitalization of NCRR in 1998; and developing rail corridor protection practices to position the corridor for future uses.
Under direction of William V. “Bill” Bell, Chairman of the Board of Directors, directors and management team representatives will formulate a plan to ensure that leadership transition is seamless and that operations are uninterrupted. Saylor, who is also a licensed attorney, will continue to serve in his current capacity as President and assist with transition plans until his retirement from NCRR in July.
“I have long admired the important work Scott has performed for this company,” said Bell. “He will leave the North Carolina Railroad in better shape than he found it, a goal of anyone with the professionalism and integrity that he demonstrates every day.”
Transition plans will be finalized at a later date.