Kirby succession plan moves ahead

Joseph H. Pyne Joseph H. Pyne

JANUARY 3, 2014 — Kirby Corporation's Joe Pyne (left) is handing over some of the reins at the nation's largest tank barge operator and diesel engine services as the company moves ahead with succession plan. David W. Grzebinski has now been elected President and Chief Operating Officer and will remain Kirby's Chief Financial Officer until after the filing of the 2013 Form 10-K in February 2014. Mr. Grzebinski previously served as Executive Vice President and Chief Financial Officer, a position he has held since 2010.

C. Andrew Smith has been elected Executive Vice President - Finance. Mr. Smith will assume the role of Executive Vice President and Chief Financial Officer after the filing of Kirby's 2013 Form 10-K. Mr. Smith, a Certified Public Accountant, brings to Kirby 20 years of extensive business and financial experience. Prior to joining Kirby, he served as Senior Vice President and Chief Financial Officer of Benthic Geotech and was previously Chief Financial Officer for both Global Industries, Ltd and NATCO Group.

Mr. Pyne will remain Chairman of the Board and Chief Executive Officer. Mr. Pyne previously served as Chairman of the Board, President and Chief Executive Officer. He has served as the Chief Executive Officer of Kirby since 1995.

Mr. Pyne stated, "The election of David Grzebinski as President and Chief Operating Officer and Andy Smith as Executive Vice President - Finance is the first step in the succession plan we announced in April 2013, with the goal of transitioning my Chief Executive Officer's position to David during 2014, and the Chief Financial Officer's position to Andy in February 2014. I intend to remain an active and engaged Chairman and I am looking forward to working with David and Andy and the Kirby management team in creating value for our shareholders."