Major General William Thomas "Tom" Rice, [June 13, 1912 - March 5, 2006] in Hague, he married Jaqueline Johnston [May 11, 1912 - November 20, 2002] of Harrisburg Virginia in September of 1935, and has two children, John T. Rice and Lynn Rice Heard.  General Rice's son John, who died in 2004, was also a VPI alumnus.  Both are interred at Yeocomico Episcopal Church.

His education consisted of a B.S. in Civil Engineering from V.P.I. (1934); Stetson University - LLD (honorary) (1959); The Citadel - DMS (honorary) (1980).

General Rice began his career in 1934 with Pennsylvania Railroad in the Operating Department. Called to active duty in the U.S. Army in 1942, with rank of First Lieutenant, he was assigned to help operate the Trans-Iranian Railway between the Persian Gulf and Tehran.  As the war ended, he was in charge of railroad operations in the half of Japan occupied by the 6th Army. Later he was inducted into the Army Transportation Corps Hall of Fame.  General Rice's decorations include the Legion of Merit with two Oak Leaf Clusters.

After serving on active duty, Rice returned to work for the Richmond, Fredericksburg, & Potomac Railroad Company in February 1946, and after holding several managerial positions, General Rice was elected President January 1, 1955.

General Rice became President of the Atlantic Coast Line Railroad Company on August 1, 1957, and upon merger of former ACL and Seaboard Air Line Railroads, he was elected president of the merged company on July 1, 1967. On January 1, 1970, he was elected Chairman and Chief Executive Officer. General Rice served as Chairman of Seaboard Coast Line Industries, Inc. (the parent company) and Chairman of SCL Railroad and Louisville & Nashville Railroad Company. As of August 1, 1978, he became Chairman Emeritus of Seaboard Coast Line Industries, Inc. General Rice is a director of Tredegar Industries, Inc. & Florida Rock Industries, Inc. and has served as a director of banks, chemical companies, food companies, and a textile company.

A member of the Board of Visitors of V.P.I. and served as its Rector. General Rice also served as Advisor and on Boards of V.M.I, The Citadel, and the protestant Episcopal Seminary in Virginia. He is active in the Virginia State Chamber of Commerce and a member of St. Stephens Episcopal Church, Richmond, where he served as a layman.