Ryan Ratledge
Ryan Ratledge is the President and CEO of Pinsly Railroad Company. He joined the company in 2022 following its acquisition by Macquarie Infrastructure Partners, bringing with him more than 30 years of experience in the rail industry.
Since joining Pinsly in 2022, he has led the company through a period of significant growth—expanding from two to nine short-line railroads through strategic acquisitions that also added warehousing, transload, and trucking capabilities. The company has invested $70 million in infrastructure and has earned multiple industry safety awards from the American Short Line and Regional Railroad Association (ASLRRA), all while continuing to deliver exceptional service to its customers.
Throughout his career, Ryan has led high-performing teams through complex challenges, consistently improving safety, earnings, and customer satisfaction. One of his most notable accomplishments was leading the turnaround of the bankrupt Montreal, Maine & Atlantic Railway. From 2014 to 2020, Ryan and his team transformed the line into the highly respected Central Maine & Quebec Railway (CMQR). That success culminated in June 2020, when Canadian Pacific Railway received approval to acquire CMQR.
Ryan’s experience spans both Class I and short line environments, giving him a unique perspective on how policy and infrastructure decisions impact shippers of all sizes. His career began in 1994 with Burlington Northern Santa Fe (BNSF) predecessor, Atchison, Topeka & Santa Fe, as a switchman. He advanced through multiple roles to become Terminal Superintendent at BNSF before joining RailAmerica where he led the turnaround of the Indiana & Ohio Railway and was later promoted to Regional Vice President for the Midwest Region in 2011. Ryan later joined Genesee & Wyoming and served as Senior Vice President until 2014, when he became Chief Operating Officer of CMQR. In 2017 Ryan was promoted to President & CEO and under his leadership, CMQR emphasized safety, operational excellence, and strong partnerships with connecting carriers. The railroad was recognized with multiple honors, including 2016 Regional Railroad of the Year, Railway Age Magazine; 2016 ASLRRA Jake with Distinction Award for injury-free operations in the U.S.; 2015 Railway Association of Canada Safety Award.
Following the sale of CMQR to Canadian Pacific in 2020, Ryan founded LERN, LLC, where he advised clients across the freight rail sector, including operators, investors, and insurers. In 2021, he also served on the Board of Directors for the Iowa Interstate Railroad.
Ryan is very active in the rail industry and has been tapped as a regular speaker at RailTrends and ASLRRA events. In recognition of his contributions to the freight rail industry, Ryan was recently named one of Railway Age’s 2025 Most Influential Industry Leaders. In October of 2025 Ryan was appointed to the Surface Transportation Board’s (STB) Railroad-Shipper Transportation Advisory Council (RSTAC) as the small railroad representative where he will serve a three-year term.