Smith, who joined the company in 2009 and took the throttle as CEO in 2018, has assumed the additional responsibilities of Executive Chairman of the Board at Watco, which provides transportation, material handling and warehousing, logistics, and railcar repair and maintenance for customers throughout North America and Australia.
Baden, who previously served as Executive Vice President and Chief Financial Officer, is now Executive Vice President and Vice Chairman of the Watco Board. He has been with Watco since 2004.
Nielsen, formerly Executive Vice President and Chief Accounting Officer, has transitioned to Executive Vice President and Chief Financial Officer, overseeing finance, treasury, capital allocation, and investor relations functions. He joined the company in 2015.
Rachael Peterson remains Executive Vice President and Chief Business Officer, leading Watco’s operations, safety, marketing and communications, and people services. Nick Coomes also continues as Executive Vice President and Chief Solutions Officer, leading sales and customer solutions, project design and engineering, real estate and industrial development, and information technology. Peterson joined Watco in 2006, and Coomes in 2014.
The changes, effective Jan. 1, were “designed to further strengthen the company’s management team and support its commitment to safe customer service and long-term growth,” according to Watco, which celebrated 40 years of service in 2023.
“I’m honored to continue to build on Watco’s strong foundation,” Smith said. “The culture here is truly special. I’m grateful for the opportunity to work alongside this team and to help position Watco for its next chapter of success.”
Rick Webb, former longtime Executive Chair of the Watco Board, noted that he was “excited about our continued success, with Dan and his leadership team at the helm.”
“Our Watco Team continues to perform at a high level, delivering historic value creation for our customers, team members, and stakeholders,” said Webb, who was selected by Railway Age readers as an Influential Leader in 2021 and by the American Short Line and Regional Railroad Association as a Short Line Hall of Fame inductee in 2024. “These leadership changes confirm my belief that we have the best team we have ever had and the best team in the industry.”
