DENVER – OmniTRAX Co-CEO Dean Piacente will retire at the end of the year as part of a planned leadership transition, the company said on Tuesday.
Piacente will continue to serve on the OmniTRAX board and will focus on the shortline holding company’s eastern growth strategy. Co-CEO Colby Tanner, a former BNSF executive, will assume full leadership beginning Jan. 1.
Piacente, a former CSX executive, was named CEO in February 2021. During his tenure OmniTRAX experienced rapid growth and set records in safety, service, and operational performance.
“I’m extremely proud of what the team has accomplished. Over the past five years, OmniTRAX has grown nearly 60% while attracting $5 billion of Fortune 500 company structures to the rail network. The strategic additions of new railroads, ports, industrial parks, and partners position OmniTRAX well for sustained growth,” Piacente said in a statement. “Our board has been invaluable to our continued network growth, and I’m excited to build on that momentum and provide Colby and the team with the resources to thrive.”
Piacente’s company rebrand, “Powered by Rail and Real Estate,” was instrumental in the company’s record increase in new industrial projects that incorporated rail service into the design and build process.
In Piacente’s new board role, his focus shifts to employing his extensive eastern U.S. rail experience, relationships, and knowledge to support the company’s growth strategy in the East.
“Dean’s industry reputation and record of results are exceeded only by the achievements he has earned while leading OmniTRAX,” said OmniTRAX Board Chairman David Garin. “We sought Dean for his extensive leadership experience and industry knowledge, and his board service ensures that OmniTRAX will continue to benefit from those invaluable resources.”
Founded in 1972 by industrialist Pat Broe, The Broe Group launched OmniTRAX in 1986 and has grown the company into the fastest growing privately held rail and infrastructure operation in North America. The OmniTRAX Rail Network now comprises 31 rail operations serving ports, industrial parks, and industries across the United States.
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