Reed Resigns as President, Chief Operating Officer of Conrail
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Stuart M. Reed has resigned as president and chief operating officer of Conrail, a post he held for nine years. He also resigned as a director.
Conrail said in a statement that Reed stepped down “in order to help facilitate the selection of a new chief executive officer.”
Conrail said no replacement for Reed would be chosen immediately.
L. Stanley Crane, who is Conrail’s chairman and chief executive, has announced publicly that he plans to retire at the end of 1988.
Conrail, which went public earlier this year, said its board hopes to assure a smooth transition in the management of the Philadelphia-based freight company.
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