Davis Named Southern Pacific CEO

Southern Pacific Rail Corp., tapping another outsider to extend its recent financial rebound, on Tuesday named CSX Corp.’s Jerry Davis to be president and chief executive of the San Francisco-based concern.

Davis, 56, succeeds Edward L. Moyers, a former Illinois Central executive who had been running Southern Pacific, California’s largest railroad, since early 1993.

Moyers, 66, recently announced plans to step down for health reasons.

Davis had been chief operating officer of CSX’s Transportation group, which runs a 33,000-mile railroad in the eastern United States.

* Lockheed Corp. said Kenneth W. Cannestra, president of its Aeronautical Systems Group, will retire and be succeeded by James A. (Micky) Blackwell, effective March 15.

Cannestra was also designated to head the aeronautics sector of the company that will be formed by the pending merger of Burbank-based Lockheed and Martin Marietta Corp.

Cannestra, 64, decided to retire in advance of his mandatory retirement age of 65 in December, Lockheed said.

Lockheed’s Aeronautical Systems Group has plants in Marietta, Ga., Palmdale and Ft. Worth.

Blackwell, 54, is currently president of Lockheed Aeronautical Systems in Marietta.

* J. Terrence Lanni, who recently resigned as president and chief operating officer at Caesars World, has been elected to the board of directors of Santa Anita Operating Co. and Santa Anita Realty Enterprises. The companies own and operate the Santa Anita horse racetrack in Arcadia.