In a shock move, underperforming rail and ports operator Asciano Ltd has replaced its CEO, Mark Rowsthorn with the appointment of the former global head of freight giant, DHL Express, John Mullen.

Mr Mullen succeeds Mark Rowsthorn, according to statement.

There was no real explanation to the market from either the company or Mr Rowsthorn.

Asciano shares rose 4.5c to $1.695, the highest they have been since mid-October.

It has to be pointed out that in a statement last Wednesday, February 1, Rowsthorn was extensively quoted as CEO, and five days later he's gone with thanks.

So now the two driving forces behind the takeover of Patricks in 2006 by Toll Holdings, and then the controversial splitting of that company in 2007