INDIANAPOLIS — Michael D. Engel and Larry F. Kaelin, who played key roles in the success of the Indiana Rail Road during their tenure as executives, have retired, the railroad has announced.
Both men retired as of March 31. Engel held the position of senior vice president and chief financial officer; Kaelin was vice president, business development.
Engel joined the railroad in 1990 and held a variety of positions including customer service representative, controller, and chief administrative officer. He was promoted to senior vice president and chief financial officer in 2013 after serving as vice president, accounting.
Kaelin, who joined the company in 2003 as vice president, coal and energy marketing, was promoted to vice president, business development in 2021. He had more than 40 years of experience in the coal and energy industry.
“The lasting impact that both Mike and Larry have had on our company is immeasurable,” Dewayne Swindall, Indiana Rail Road CEO, said in a press release. “Their leadership defined the excellence we try to measure up to every day. We will certainly miss them but wish them many years of happiness in their retirement.”
They just lost Newton as a coal customer (business they stole from CN) due to Vista shutting it down. It ran a mix of regional sulfur coal and Powder River. Currently looking to turn it into a stored energy plant with lots of batteries.
Not sure how much longer Duke and Indiana Power will keep feeding their coal plants that IR (and ISRR at Duke Energy) keep topped off.
They have the container deal with CN for Prince Rupert to Indy traffic. They also do a pickup for Indy customers who don’t want to dray from Chicago to Indy.