North Carolina Railroad CEO Carl Warren Departed
The rail operator has initiated a national search for new leadership to manage its 317-mile statewide track network.
Updated on Sept. 25, 2026 in People
Live Poll
Do you trust the management of state-owned enterprises to prioritize the interests of your community?
The board of directors for the North Carolina Railroad Company has announced that CEO Carl Warren is leaving the organization. The company, which is owned by the state, has engaged a national search firm to identify his successor.
Why it matters
The leadership change arrives as the company manages significant infrastructure obligations, including $105.6 million in recently secured federal rail improvement funding. This transition requires maintaining operational continuity across 317 miles of state-owned track.
During Carl Warren's leadership, which began in August 2020, the company facilitated $40.4 million in stimulated investments and oversaw $18.4 million in grants awarded since 2017. The firm currently maintains 317 miles of track connecting Charlotte and Morehead City.
The players
Carl Warren
The former chief executive who led the North Carolina Railroad Company for six years.
Malcomb Coley
A board member and former EY veteran who serves as the transition liaison to the executive team.
Korn Ferry
A global organizational consulting firm hired to lead the national executive search.
North Carolina Railroad Company
A private, state-owned rail operator overseeing 317 miles of track across North Carolina.
The details
The board of directors has hired the global consulting firm Korn Ferry to manage the search for a new executive to lead the 177-year-old entity. During the interim period, board member Malcomb Coley will serve as a liaison to the executive team to ensure business operations continue without disruption.
Timeline
The company initiated its grant award program in 2017.
Carl Warren assumed the CEO role in August 2020.
Malcomb Coley retired from his 23-year tenure at EY in June 2025.
The board of directors announced the leadership change on September 25, 2026.
Market Landscape
This leadership transition follows a period of heavy federal capital investment in the state's rail infrastructure. It marks a shift from the growth-oriented strategy pursued since 2020, positioning the board to align new executive priorities with upcoming federal grant implementation.
Operators managing logistics or infrastructure projects should monitor the selection of the new CEO for shifts in grant application requirements or track access policies. Suppliers currently engaged in the $105.6 million rail improvement project should coordinate with Malcomb Coley regarding existing contract timelines.
The takeaway
Management transitions at state-owned infrastructure entities can signal changes in capital allocation priorities for contractors and developers. Operators should track the new CEO's background as an indicator of whether the company will prioritize aggressive expansion or maintenance of existing assets.
Further reading
For broader trends in regional management, review recent People updates.
Source note: This article includes information reported by Business North Carolina.
Live Poll
Do you trust the management of state-owned enterprises to prioritize the interests of your community?
