FTS Rail Formalizes CEO, COO After 2-Year De Facto Leadership

FTS Rail formalizes new CEO Peter Bartek Jr. and COO Josiah Stiemann, confirming leadership in place for two years. Peter M. Bartek moves to strategic board roles.

FTS Rail Formalizes CEO, COO After 2-Year De Facto Leadership
February 23, 2026 5:53 am | Last Update: February 23, 2026 5:56 am
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📉 Market Brief:
  • Event: FTS Rail formalizes executive succession for CEO and COO roles.
  • Key Data: Incoming leadership has been de facto leading for the past two years.
  • Impact: Affects FTS Rail corporate governance and long-term strategic direction.

FTS Rail has confirmed a change in its executive leadership, with Peter M. Bartek announcing his succession plan. Peter Bartek Jr. will assume the role of chief executive officer, and Josiah Stiemann has been appointed as the company’s new chief operating officer. The transition formalizes a power structure that has been in place for an extended period.

According to the announcement from Peter M. Bartek, both Peter Bartek Jr. (referred to as Peter J.) and Josiah Stiemann have been effectively managing the company’s operations for the last two years. During this period, the incoming executives reportedly delivered results and secured the trust of key industry stakeholders. The stated objective of the succession is to install new, younger leadership to direct the company’s next phase of operations.

Peter M. Bartek is not exiting the company; his role will be redirected toward strategic functions. He will concentrate on innovation initiatives and maintain relationships with key stakeholders. His new mandate also includes leading the board of directors, where he will continue to provide support to the executive team and influence the company’s long-term vision.

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The appointments place day-to-day operational control squarely with Bartek Jr. and Stiemann. This leadership change solidifies a management structure that has been tested over a 24-month period, moving from an informal arrangement to a formal corporate hierarchy. No specific metrics on the results delivered by the new leadership during that time were disclosed in the announcement.

Verification data from independent sources aligns with the core details of the FTS Rail announcement, confirming the names and new titles of the executives involved. The two-year period of effective leadership by the new team is also corroborated.

The transition at FTS Rail establishes a clear line of succession while retaining the founder’s experience at the board and strategic levels. The company has not released further information regarding potential shifts in operational strategy or financial targets under the new executive team.