LAKE OSWEGO, Ore., Aug. 28, 2018 /PRNewswire/ -- The Greenbrier
Companies, Inc. (NYSE: GBX) today announced that its Executive Vice
President (EVP) and Chief Financial Officer (CFO), Lorie Tekorius, has been appointed EVP and Chief
Operating Officer (COO) by its Board of Directors, with expanded
responsibilities, continuing to report to William A. Furman, Chairman, President and Chief
Executive Officer. In her newly-created COO role, Tekorius steps
into leadership for Greenbrier's wheels, parts and repair operating
unit and takes on additional responsibility for human resources and
corporate safety & security.
Rick Turner, Senior Vice
President for Wheels, Parts & Repair, will report to Tekorius.
Turner will manage 24 wheels, parts and repair shops, double the
number of locations in the Greenbrier shop network, after the
dissolution of the GBW Railcar Services joint venture and the
return of Greenbrier's shops announced August 20.
Adrian Downes has been promoted
to Acting CFO and remains reporting to Tekorius. Downes joined
Greenbrier in 2013 as Chief Accounting Officer and has over 30
years of accounting and finance experience in a variety of
industries, both with publicly held and privately held
companies. He currently directs all Greenbrier's global
corporate and operational accounting activities and oversees
Greenbrier's information technology and tax planning
functions.
Tekorius continues her management of corporate strategy and
oversight of Greenbrier's financial team as well as investor
relations and planning led by Justin
Roberts, Vice President, Corporate Finance and Treasurer.
Additionally, she chairs Greenbrier's executive committee comprised
of senior management.
Tekorius has been with Greenbrier for 23 years in various
financial capacities. Tekorius was appointed CFO in
February 2016 and Executive Vice
President and chair of the executive committee in April 2017.
In May 2018, she was recognized by
the Portland Business Journal for her corporate and community work
as Oregon's "CFO of the
Year—Public Company Category".
Furman stated, "Lorie is a highly skilled executive with more
than two decades of service to Greenbrier. Her promotion and
enhanced responsibilities reflect the reality of the increased
duties she has accepted through her successive advancements in
management at Greenbrier. Lorie has demonstrated a strong
sense of our values, including integrity, respect for people and
customers, along with an ability to collaborate across the
organization to achieve shared success. Lorie's promotion to
COO today demonstrates Greenbrier's emphasis on growing from within
as we continue to plan our future. In her enhanced role,
Lorie will help Greenbrier focus our energies on management's
strategic plan to emphasize growth and scale while building our
bench of talent and sharpening our succession plans throughout the
company."
About Greenbrier
Greenbrier—headquartered in Lake
Oswego, Oregon—is a leading international supplier of
equipment and services to global freight transportation markets.
Greenbrier designs, builds and markets freight railcars and marine
barges in North America.
Greenbrier Europe is an end-to-end
freight railcar manufacturing, engineering and repair business with
operations in Poland, Romania and Turkey that serves customers across
Europe and in the nations of the
GCC. Greenbrier builds freight railcars and rail castings in
Brazil through two separate
strategic partnerships. We are a leading provider of freight
railcar wheel services, parts, repair, refurbishment and
retrofitting services in North
America through our wheels, parts & repair business
unit. Greenbrier offers railcar management, regulatory
compliance services and leasing services to railroads and related
transportation industries in North America. Through
unconsolidated joint ventures, we produce industrial and rail
castings, tank heads and other components. Greenbrier owns a lease
fleet of over 8,500 railcars and performs management services for
368,000 railcars. Learn more about Greenbrier at www.gbrx.com.
"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, taxation 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, 2017, Greenbrier's Quarterly Report on
Form 10-Q for the fiscal quarter ended May
31, 2018, 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.
View original content with
multimedia:http://www.prnewswire.com/news-releases/greenbrier-promotes-lorie-tekorius-to-chief-operating-officer-300703047.html
SOURCE The Greenbrier Companies, Inc. (GBX)