Aurizon has appointed Andrew Harding as chief executive in place of Lance Hockridge, calling the former Rio Tinto iron ore head the right person to increase value for shareholders.
The bulk freight operator's chairman Tim Poole said Mr Hockridge had led the company since it first listed in 2010.
Mr Hockridge will continue as chief executive until December 1, when he will receive termination benefits as specified in his contract.
Aurizon last month forecast lower-than-expected 2017 earnings, along with more cost cutting measures and a review of its road-rail terminals and bulk freight operations.
The group now expects underlying earnings of between $900 million and $950 million in the current financial year, after posting an 88 per cent fall in net profit to $72 million for 2016.
Mr Poole said Mr Harding managed complex mining logistics operations in his most recent role as Rio Tinto chief executive of iron ore.
"Andrew's ability and experience will be essential in driving the next phase of transformation to increase value for Aurizon shareholders," Mr Poole said in a statement.
