This should do it for you, add more "cases" if you wish:
Code:
Option Explicit
Sub AdjustHistoricCodes()
Dim MyCodes As Variant, c As Long, LR As Long
LR = Range("A" & Rows.Count).End(xlUp).Row
MyCodes = Application.Transpose(Range("A2:A" & LR))
For c = LBound(MyCodes) To UBound(MyCodes)
Select Case UCase(Left(MyCodes(c), 4))
Case "CTCR": MyCodes(c) = "N" & Mid(MyCodes(c), 5, Len(MyCodes(c)))
Case "CTCP": MyCodes(c) = "P" & Mid(MyCodes(c), 5, Len(MyCodes(c)))
Case "CTWC": MyCodes(c) = "CP" & Mid(MyCodes(c), 5, Len(MyCodes(c)))
Case "CASM": MyCodes(c) = "S / WR" & Mid(MyCodes(c), 5, Len(MyCodes(c)))
Case "CANM": MyCodes(c) = "N / WR" & Mid(MyCodes(c), 5, Len(MyCodes(c)))
End Select
Next c
Range("A2:A" & LR).Value = Application.Transpose(MyCodes)
End Sub