Wed, Apr 26, 2017 06:00 AM
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.
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.
SOURCE The Greenbrier Companies, Inc. (GBX)