LAKE OSWEGO, Ore., April 26, 2017 /PRNewswire/ -- The
Greenbrier Companies, Inc. (NYSE: GBX) today announced that its
Senior Vice President and Chief Financial Officer, Lorie Tekorius, has been promoted to Executive
Vice President and Chief Financial Officer, with expanded
responsibilities. In addition to continuing her CFO duties,
Tekorius now chairs a management committee comprised of key unit
heads, with oversight of management policies in capital allocation,
operations and technology, strategy, human resources,
administration and risk management, as well as other
functions.
Tekorius joins Mark Rittenbaum,
Executive Vice President, Commercial and Leasing, and Alejandro
Centurion, Executive Vice President & President, Global
Manufacturing Operations, as Greenbrier's third Executive Vice
President. Tekorius has been with Greenbrier for 22 years in
various financial capacities. She is a Certified Public
Accountant, with a BBA in accounting from Texas A&M University, and began her
professional career with Coopers & Lybrand. In April, she
was recognized by the Portland Business Journal for her corporate
and community work as one of the region's 25 "Women of Influence".
William A. Furman, Chairman and
Chief Executive Officer, stated, "Lorie has demonstrated leadership
and drive in the CFO role, as well as in other assignments
requiring increased responsibility and experience. Over the
course of more than two decades at Greenbrier, Lorie has
demonstrated a strong sense of Greenbrier's values, including
integrity and respect for people. She is an admired member of
our senior management team and has shown leadership in value
creation for our shareholders."
Furman continued, "Lorie has successfully executed a number of
responsibilities over her years with Greenbrier, including in our
global manufacturing organization. She also has regularly
participated in the activities of our commercial operations as part
of her duties over time. For the past five years she has
driven Greenbrier's highly successful strategic process. I am
pleased to have Lorie take on this new leadership position within
our senior management team."
Greenbrier's financial team has been further strengthened by the
recent promotion of Justin Roberts
to the role of Vice President, Corporate Finance and Treasurer,
reporting to Tekorius. Roberts has held roles of
progressively increasing responsibility on Greenbrier's corporate
finance team during his 11-year tenure with the Company.
Roberts was most recently the Assistant Vice President Corporate
Finance & Assistant Treasurer. He is now responsible for all
treasury functions, annual plan development, financial projection
activities and investor relations. Roberts will also support
Tekorius and others on the senior management team on strategic
initiatives and other projects.
About Greenbrier
Greenbrier (www.gbrx.com),
headquartered in Lake Oswego,
Oregon, is a leading international supplier of equipment and
services to freight rail transportation markets. Greenbrier
designs, builds and markets freight railcars in North America and Europe. We also build
and market marine barges in North America. We manufacture
freight railcars and rail castings in Brazil through a strategic partnership.
Through our European manufacturing operations, we recently began
delivery of U.S.-designed tank cars to Saudi Arabia. In
October 2016, we entered into an
agreement with Astra Rail Management GmbH to form a new company,
Greenbrier-Astra Rail, which will create an end-to-end,
Europe-based freight railcar
manufacturing, engineering and repair business. We expect this
combination to be completed during 2017. We are a leading provider
of wheel services, parts, leasing and other services to the
railroad and related transportation industries in North America and a supplier of freight
railcar repair, refurbishment and retrofitting services in
North America through a joint
venture partnership with Watco Companies, LLC. Through other joint
ventures, we produce rail castings, tank heads and other railcar
components. Greenbrier owns a lease fleet of over 8,000 railcars
and performs management services for over 266,000 railcars.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: This press release may contain
forward-looking statements, including any statements that are not
purely statements of historical fact. Greenbrier uses words such as
"anticipates," "believes," "forecast," "potential," "goal,"
"contemplates," "expects," "intends," "plans," "projects," "hopes,"
"seeks," "estimates," "strategy," "could," "would," "should,"
"likely," "will," "may," "can," "designed to," "future,"
"foreseeable future" and similar expressions to identify
forward-looking statements. These forward-looking statements
are not guarantees of future performance and are subject to certain
risks and uncertainties that could cause actual results to differ
materially from the results contemplated by the forward-looking
statements. Factors that might cause such a difference
include, but are not limited to, reported backlog and awards that
are not indicative of Greenbrier's financial results; uncertainty
or changes in the credit markets and financial services industry;
high levels of indebtedness and compliance with the terms of
Greenbrier's indebtedness; write-downs of goodwill, intangibles and
other assets in future periods; sufficient availability of
borrowing capacity; fluctuations in demand for newly manufactured
railcars or failure to obtain orders as anticipated in developing
forecasts; loss of one or more significant customers; customer
payment defaults or related issues; policies and priorities of the
federal government regarding international trade and
infrastructure; sovereign risk to contracts, exchange rates or
property rights; actual future costs and the availability of
materials and a trained workforce; failure to design or manufacture
new products or technologies or to achieve certification or market
acceptance of new products or technologies; steel or specialty
component price fluctuations and availability and scrap surcharges;
changes in product mix and the mix between segments; labor
disputes, energy shortages or operating difficulties that might
disrupt manufacturing operations or the flow of cargo; production
difficulties and product delivery delays as a result of, among
other matters, costs or inefficiencies associated with expansion,
start-up, or changing of production lines or changes in production
rates, changing technologies, transfer of production between
facilities or non-performance of alliance partners, subcontractors
or suppliers; ability to obtain suitable contracts for the sale of
leased equipment and risks related to car hire and residual values;
integration of current or future acquisitions and establishment of
joint ventures; succession planning; discovery of defects in
railcars or services resulting in increased warranty costs or
litigation; physical damage or product or service liability claims
that exceed Greenbrier's insurance coverage; train derailments or
other accidents or claims that could subject Greenbrier to legal
claims; actions or inactions by various regulatory agencies
including potential environmental remediation obligations or
changing tank car or other railcar or railroad regulation; and
issues arising from investigations of whistleblower complaints; all
as may be discussed in more detail under the headings "Risk
Factors" and "Forward Looking Statements" in Greenbrier's Annual
Report on Form 10-K for the fiscal year ended August 31, 2016 and Greenbrier's Quarterly Report
on Form 10-Q for the fiscal quarter ended February 28, 2017, and Greenbrier's other reports
on file with the Securities and Exchange Commission. Readers
are cautioned not to place undue reliance on these forward-looking
statements, which reflect management's opinions only as of the date
hereof. Except as otherwise required by law, Greenbrier does
not assume any obligation to update any forward-looking
statements.
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SOURCE The Greenbrier Companies, Inc. (GBX)