CHICAGO — Former TTX president and CEO Raymond C. Burton Jr. has died, the company has announced.
Burton, 89, died June 19 in New York City. He was the company’s president and CEO from 1982 until his retirement in 2000, and is credited with modernizing the company, helping strengthen its financial condition and meet growing demand for transportation of intermodal containers, trailers, and automobiles. He helped reshape the North American railcar pool, allowing TTX to servce its railroad owners with greater efficiency, flexibility, and scale.
Burton had previously held leadership roles at Santa Fe Industries and Burlington Northern, where he held raise the capital to finance expansion of infrastructure in the Powder River Basin. A 1960 graduate of Cornell University, he served in the U.S. Army as a lieutenant, then received his MBA from the Wharton School at the University of Pennsylvania in 1963.
“Ray was a true renaissance man, and one of those rare leaders whose values inspired the entire corporate team,” said current TTX CEO Thomas F. Wells, and immediate past CEO Andrew Reardon.“He was the right person to lead TTX during a pivotal time in our transformation, and befittingly was one of very few people to be recognized twice as Railroader of the Year, a rare distinction in our industry.
Burton is survived by his wife of 26 years, Madge Burton of Rancho Mirage, Calif., and New York City as well as his stepson, Raymond W. Starmann III of Woodlands, Texas, and his stepdaughter, Carolyn P. Starmann of New York City. A private funeral service is planned in New York City this week, with burial in Maine. In lieu of flowers, donations to the Alzheimer’s Association are welcome.
