Eric Marchetto Named Senior Vice President & Group President of TrinityRail Reporting to Trinity Industries’ CEO Tim Wallac...
March 19 2019 - 08:10PM
Business Wire
Trinity Industries, Inc. (NYSE:TRN) (“Trinity” or the “Company”)
today announced that Eric R. Marchetto, currently Executive Vice
President and Chief Commercial Officer of TrinityRail, has been
named Senior Vice President of Trinity and Group President of
TrinityRail. The Company also announced the separation of the roles
of Chairman of the Board of Directors and Chief Executive Officer.
Leldon E. Echols, currently presiding director, has been named
non-executive Chairman of the Board of Directors. Timothy R.
Wallace will remain as the Company’s Chief Executive Officer,
President, and a member of the Board of Directors.
As Group President of TrinityRail, Mr. Marchetto will have
oversight and responsibility for the Company’s railcar leasing and
railcar products segments. Mr. Marchetto has been a key contributor
towards the development, growth, and evolution of the railcar
leasing, manufacturing, and services businesses into Trinity’s
integrated rail platform. In addition to his current role as Chief
Commercial Officer, he has served in a number of capacities during
his 23 year career with Trinity, including TrinityRail’s Chief
Financial Officer, Senior Vice President of Capital Markets, and
Executive Vice President of Leasing. Mr. Marchetto began his career
with Ernst and Young in their audit practice. Mr. Marchetto
graduated from Southern Methodist University in 1992 with Bachelor
degrees in Accounting and Economics.
“Eric is a highly respected, talented individual and leader who
has strengthened our relationships with current and potential
customers leveraging the integrated rail platform of products and
services,” said Mr. Wallace. “Eric’s background and experience
within Trinity is highly valuable to the leadership team as we look
to enhance our returns for shareholders and build upon the
integrated rail platform.”
On the recommendation of Mr. Wallace, Trinity’s Board of
Directors separated the roles of Chairman and Chief Executive
Officer. In his role as Chairman, Mr. Echols will provide
independent oversight and direction, and preside at meetings of the
Board of Directors. Mr. Echols has served as an independent member
of Trinity’s Board of Directors since 2007 and as presiding
director since 2013.
“Lel has done an excellent job serving as presiding director,”
Mr. Wallace said. “I respect his judgment, his communication
skills, and his ability to provide board level leadership. The
timing is right for the separation of roles. It will allow me to
concentrate my focus on the company’s business strategies,
operations, and other corporate activities at this critical time in
Trinity’s evolution. It will also benefit the long-term interests
of our stakeholders and strengthen our corporate governance
structure. I have great confidence that Lel will be an extremely
effective chairman, and I look forward to working with him for many
years to come.”
About Trinity Industries
Trinity Industries, Inc., headquartered in Dallas, Texas, owns
businesses that are leading providers of rail transportation
products and services in North America. Our rail-related businesses
market their railcar products and services under the trade name
TrinityRail®. The TrinityRail integrated business platform provides
railcar manufacturing, maintenance and modifications, as well as
railcar leasing and management services. Trinity also owns
businesses engaged in the manufacture of products used on the
nation’s roadways and in traffic control, as well as logistical and
transportation businesses that provide support services to a
variety of industrial manufacturers. Trinity reports its financial
results in three principal business segments: the Rail Group, the
Railcar Leasing and Management Services Group, and the All Other
Group. For more information, visit: www.trin.net.
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Jessica L. GreinerVice President, Investor Relations and
CommunicationsTrinity Industries, Inc.(Investors)
214/631-4420(Media Line) 214/589-8909
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