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Indiana Rail Road founder to retire next year

December 6, 2014

Thomas G. Hoback will retire from the Indiana Rail Road Co. on June 30, 2015, and CSX Transportation executive Peter Mills will take his place.

Hoback, 67, started the Indianapolis-based company in 1986, building a regional railroad out of a defunct branch line.

“After nearly 30 years of concentrated focus on growth, and having reinvested nearly $200 million of our earnings into improvements, [Indiana Rail Road] is in the best physical condition it has ever been,” Hoback said in a prepared statement.

Hoback’s successor, Mills, has served on the company’s board for 10 years. He is vice president of finance operations for Florida-based CSX Transportation but plans to resign next year and move to Indianapolis.

Indiana Rail Road began with 16 employees and now has nearly 200.•

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