National Railway Equipment Corp. officials are among those mourning the weekend death of the company’s CEO, Steven L. Beal.
Beal, 46, was found dead around 8 a.m. Sunday, July 12, when Ladue Police responded to a report of a possibly deceased male in the 100 block of Ladue in Missouri. Officers found him in a swimming pool at the Ladue home he shared with his wife, Erin. A cause of death had not yet been released.
Beal was the head of the Mount Vernon, Ill.-based operation, which was founded by his father Lawrence in 1984. The company sells new and rebuilt locomotives to railroad companies worldwide, with an emphasis on the North American market.
The company board of directors released a statement late Tuesday:
“The NRE family is devastated by this tremendous loss. A lifelong ‘railroad man,’ Steven had been in the industry since the age of 12, constantly learning the business from his father, Lawrence, who founded NRE in 1984. When Lawrence passed away in 2010, Steven was well-prepared to assume leadership of the company. He was a remarkable leader for the NRE family and a well-known and highly respected industry advocate,” statement said.
“While we mourn NRE’s loss, company leadership remains committed to the Beal family legacy and to ensuring its continued success. To that end, the board has named longtime NRE leaders, Patrick Frangella and Rob Riley, to serve as members of a newly formed executive committee to oversee all aspects of the company until a new, permanent CEO is selected.
“The only thing more important to Steven than NRE was his family, including his wife Erin and their two young children, his sister Susan Frangella and her husband Patrick, and Steven and Susan’s mother Sandra Beal. We offer them our heartfelt condolences and our unwavering support through this unthinkable tragedy.”
On its website, the employee-owned NRE refers to itself as a global leader in the rail, marine and power industries. The company’s 12 North American and five international locations encompass over 275 acres with 1,330,000 square feet under roof, serving customers in each industry.