Timothy Mellon

Timothy Mellon (born July 22, 1942) is an American businessman, and was the chairman and majority owner of Pan Am Systems, a Portsmouth, New Hampshire-based transportation holding company until 2022. He is a grandson of Andrew W. Mellon and an heir to the Mellon banking fortune. Early life and education Mellon is the son of Paul Mellon and his first wife, Mary Conover Brown. He graduated from Yale University with a degree in city planning. He is the grandson of Treasury Secretary Andrew Mellon. Career He was the chief financier in the 1977 formation of Guilford Transportation Industries (GTI), a holding company named for his native Guilford, Connecticut. In 1981, GTI purchased the Maine Central Railroad from U.S. Filter Corporation, adding the Boston & Maine and Delaware & Hudson railroads in 1983 and 1984, respectively, and in 1998 purchased the brand of bankrupt Pan American World Airways. The Pan Am name was subsequently succeeded by "Pan Am Clipper Connection," operated by subsidiary Boston-Maine Airways, which ceased operations in 2008 due to lack of financial fitness. GTI was ultimately sold to the CSX Corporation. Mellon stepped down as trustee of the Andrew W. Mellon Foundation in 2002 after 21 years on its board.