Date: Thu, 20 Nov 1997 17:40:35 GMT Server: Apache/1.2.4 Last-Modified: Wed, 02 Jul 1997 02:25:25 GMT ETag: "1138-10de-33b9bc15" Content-Length: 4318 Accept-Ranges: bytes Connection: close Content-Type: text/html KCSI's Monello to Head Financial Services; Railroad Appoints Robert Berry as CFO

KCSI's Monello to Head Financial Services

Railroad Appoints Robert Berry as CFO

 

KANSAS CITY, Mo.--July 1, 1997--As part of its strategic focus to build further long-term growth potential and value to shareholders, Kansas City Southern Industries Inc. (NYSE:KSU) announced today that Joseph D. Monello, a member of its senior management team, will assume responsibility for KCSI's Financial Services Division in addition to his current position as KCSI's chief financial officer.

The Financial Services Division, with over $63.5 billion of assets under management, includes Janus Capital Corp., one of the world's leading mutual funds, Berger Associates Inc., and KCSI's 41% ownership of DST Systems, the primary processor of mutual fund transactions.

Landon H. Rowland, chairman and chief executive officer of KCSI said, "KSCI is building two very valuable franchise segments -- Financial Services and Transportation. This appointment enables KCSI to have full-time management leadership for both of its franchise areas.

"Joe Monello, as chief financial officer of KCSI, has been integrally involved in positioning our company for growth in both areas. He knows our financial services businesses and his financial expertise will be particularly important as we move forward with the growth of this segment of our asset base,'' said Rowland.

"Michael Haverty, who heads our transportation operation, is a proven railroad executive who is focusing his efforts on growing the franchise of the Kansas City Southern Railway through a series of strategic acquisitions and alliances designed, among other things, to make the Kansas City Southern the primary railroad in North America with respect to the NAFTA trade routes linking the U.S. and Mexican industrial heartlands,'' said Rowland. "This expansion of management responsibilities is consistent with our announcement earlier this year to segment our approach to our businesses and financial reporting by franchise area.''

The Kansas City Southern Railway also reported that Robert H. Berry, a highly experienced financial executive, has joined the railroad as its chief financial officer.

Berry brings to KCS over 20 years of finance and treasury experience. He has served since 1992 as vice president of finance for Nortel Communications Systems, a telecommunications equipment manufacturer based in Princeton, N.J. Prior to that, he worked for Northern Telecom for eight years where he served as assistant vice president-human resources and as treasurer.

"Bob Berry's extensive business experience will be valuable as the KCS develops its strategies for the next century,'' said Mike Haverty, KCS president and chief executive officer. "Bob has demonstrated sound, yet creative skills, in developing and implementing financial and business planning strategies. As KCS shapes its future as the NAFTA Railway, the railroad will benefit from his unique qualifications and expertise.''

Berry earned his bachelor's degree in accounting from Boston College and his masters degree in Business Administration from Province College in Providence, R.I.

KCS is a Class I Railroad with operations in 11 central and southeastern states. KCS is a wholly owned subsidiary of Kansas City Southern Industries Inc., a transportation and asset management company with its headquarters in Kansas City, Mo.

In addition to its financial services businesses and the Kansas City Southern Railway, KCSI, through its transportation segment, has among its major investments interests in the Texas Mexican Railway and TFM, Mexico's premier railroad.


Contact:

   Kansas City Southern Industries Inc.
   Landon H. Rowland, 816/983-1393
   Joseph D. Monello, 816/983-1213
                or
   Kansas City Southern Railway Co.
   Michael R. Haverty, 816/983-1389

 


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