Rafael Santana to Succeed Ray Betler as Wabtec President and CEO
April 25 2019 - 7:32AM
Rafael Santana to Succeed Ray Betler as Wabtec President and
CEO
Wabtec Corporation (NYSE: WAB) today announced Rafael Santana will
become president and CEO of the company, effective July 1, 2019.
Santana, who will also become a Wabtec board member, will succeed
Ray Betler, who will retire as a Wabtec executive and board
member.
Santana, 47, joined Wabtec earlier this year as president and
CEO of the company’s Freight segment following the merger of Wabtec
and GE Transportation, where he served as president and CEO of the
General Electric unit.
Wabtec Executive Chairman Al Neupaver said: “This transition
comes at a time of strength at Wabtec given our diverse portfolio,
excellent management team, and strong backlog and balance sheet.
The selection of Rafael to succeed Ray is the culmination of a
thorough CEO succession planning process that evaluated both
internal and external candidates. Rafael is the right leader for
this role − bringing to Wabtec a passion for operational excellence
and technology, and a strong track record of growth and
performance.”
A native of Brazil, Santana brings roughly 25 years of
commercial, product management and executive leadership experience
to this post, including more than 10 years in the transportation
industry. He has a proven track record of transforming businesses,
while delivering top- and bottom-line growth. While leading GE
Transportation, he significantly expanded the company’s regional
footprint, and built strong overhaul and modernization capabilities
and backlog through multi-year programs. Prior to that role, he was
president & CEO of GE in Latin America, where he helped
transform the market into one of GE’s largest and fastest-growing
regions. A respected global and business executive, Santana
also served as president and CEO of the Turbomachinery Solutions
Business of GE Oil & Gas, where he drove significant margin
improvement and growth in a contracting marketplace. Santana has a
degree in engineering from the Universidade Federal de Minas Gerais
in Brazil and will be based at Wabtec’s new headquarters in
Pittsburgh, starting this fall.
A Pittsburgh native, Betler began his career in 1979 as a design
engineer with the former Westinghouse Transportation Division. In
1994, he was named president of the unit, which later became
ADtranz and now Bombardier Transportation. He joined Wabtec in 2008
and was named president and CEO in 2014.
Neupaver said: “Ray’s leadership over the last 11 years at
Wabtec has been extraordinary. Since joining the company, he has
been an integral part of Wabtec’s growth story − increasing
revenues five-fold, from $1.5 billion in 2008 to more than $8
billion in 2019. Ray also has been instrumental in reshaping our
global footprint, strengthening our technology leadership position,
and diversifying our portfolio through the acquisition of Faiveley
Transport and merger with GE Transportation. The board is confident
that Wabtec investors, customers and employees will benefit from
these achievements for years to come. We wish Ray all the best in
his retirement.”
Betler said: “After 40 years in the transportation industry and
a career that started with Westinghouse Transportation and
culminated with Wabtec, the time is right to transition leadership
of this great company to Rafael, who will build on our success and
ensure a strong future for the new Wabtec. Throughout my career, I
have been humbled by the commitment and hard work of our people and
their passion to create a purpose-driven company. Together, we have
raised the bar on safety, quality, talent and value.”
Santana added: “I am deeply honored that the board has selected
me to succeed Ray as Wabtec’s next president and CEO, and to build
on this company’s solid foundation of growth. Wabtec has a rich
history of meeting the needs and expectations of our investors,
customers and employees. Since merging GE Transportation and
Wabtec, we have been hard at work ensuring we hit our operational,
financial and synergy commitments. I am committed to delivering on
these efforts. Based on our first quarter results, we are off to a
solid start and excited about our future.”
About Wabtec Corporation Wabtec Corporation is
a leading global provider of equipment, systems, digital solutions
and value-added services for freight and transit rail. Drawing on
nearly four centuries of collective experience across Wabtec, GE
Transportation and Faiveley Transport, the company has unmatched
digital expertise, technological innovation, and world-class
manufacturing and services, enabling the digital-rail-and-transit
ecosystems. Wabtec is focused on performance that drives progress,
creating transportation solutions that move and improve the world.
The freight portfolio features a comprehensive line of locomotives,
software applications and a broad selection of mission-critical
controls systems, including Positive Train Control (PTC). The
transit portfolio provides highly-engineered systems and services
to virtually every major rail transit system around the world,
supplying an integrated series of components for buses and all
train-related market segments that deliver safety, efficiency and
passenger comfort. Along with its industry-leading portfolio of
products and solutions for the rail and transit industries, Wabtec
is a leader in mining, marine and industrial solutions. Wabtec has
approximately 27,000 employees in facilities throughout the world.
Visit the company’s new website at: www.WabtecCorp.com.
Wabtec Media ContactDeia Campanelli /
Deia.Campanelli@Wabtec.com / 773-297-0482
Wabtec Investor ContactsTim Wesley /
Twesley@Wabtec.com / 412-825-1543Kristine Kubacki, CFA /
Kristine.Kubacki@wabtec.com / 412-450-2033
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