Greenbrier restructures operations, CFO to step down in March

LAKE OSWEGO, Ore. – The Greenbrier (NYSE:) Companies, Inc. (NYSE: GBX), an international supplier of equipment and services to the freight transportation markets, announced a reorganization of its business operations to align with its “Better Together” strategy. The company also disclosed the upcoming departure of its Chief Financial Officer and the completion of its Chief Legal Officer succession plan.

Greenbrier's new operational framework divides its activities into two geographic segments: The Americas and Europe. Brian Comstock, with over four decades of experience in the railway industry, has been appointed as Executive Vice President & President, The Americas. William Glenn, after more than 20 years with Greenbrier, will oversee European operations as Senior Vice President & President, Europe. Both will continue reporting to CEO and President Lorie Tekorius.

Tekorius stated that the reorganization aims to enhance focus, accountability, efficiency, and customer experience, which is anticipated to drive shareholder value. She expressed confidence that the changes will support the company's strategic priorities and emphasized the importance of collaboration within the organization.

Further changes include the transition of CFO Adrian Downes, who will step down around March 31, 2024, and continue as a senior advisor to the CEO through March 2025. A national search for a new CFO has commenced. Tekorius acknowledged Downes' contributions to strengthening Greenbrier's balance sheet and supporting its global operations.

Additionally, Christian Lucky has been appointed as Senior Vice President, Chief Legal & Compliance Officer (CLO/CCO), succeeding Martin Baker, who has moved to a senior vice presidency role. Tekorius praised Baker's efforts in modernizing the legal function and expressed confidence in Lucky's capabilities to lead the Legal and Administration team.

Greenbrier, headquartered in Lake Oswego, Oregon, is a leading provider of freight railcar solutions, including design, manufacturing, maintenance, and retrofitting services, primarily in North America, Europe, and Brazil. The company also offers leasing and regulatory compliance services to railroads and railcar owners.

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