~ Brings nearly four decades of accounting
and finance expertise to CFO role ~
~ Recently served in finance leadership at
R.J. Corman and TrinityRail ~
LAKE
OSWEGO, Ore., May 21, 2024
/PRNewswire/ -- The Greenbrier Companies, Inc. (NYSE: GBX)
("Greenbrier"), a leading international supplier of equipment and
services to global freight transportation markets, today announced
that Michael J. Donfris has been
named Chief Financial Officer ("CFO") following a nationwide
search. He joins Greenbrier from R.J. Corman Railroad Group ("R.J.
Corman"), where he has been CFO since 2020. R.J. Corman is an
independent holding company operating several short line railroads
and providing a diverse range of railroad services nationwide.
Donfris will initially be Senior Vice President, Finance. He
will become Greenbrier's CFO and principal financial officer in
July after Greenbrier files its Form 10-Q for the fiscal quarter
ending on May 31, 2024.
Donfris brings nearly 40 years of experience in corporate
accounting and finance, including almost 30 years in positions of
increasing responsibility at Kimberly-Clark, followed by approximately
eight years in the rail and rail supply industry. At R.J. Corman,
he participated in developing a multi-year strategic plan and
completing a range of transactions, including railroad
acquisitions, that led to substantial EBITDA growth. Before this,
Donfris served in senior finance roles at TrinityRail, culminating
in the position of Vice President of Finance and Chief Accounting
Officer. At TrinityRail, Donfris led initiatives to increase cash
flow and revenues as he helped the rail business develop its growth
strategy and an improved capital structure. He also transformed his
areas of responsibility by creating a Finance and Accounting
Academy and Leadership Program to support and enable his teams.
Lorie Tekorius, Chief Executive
Officer and President, stated, "We are delighted to welcome Michael
to Greenbrier's executive team. Michael brings deep experience
leading financial operations and implementing strategy at major
industrial businesses, including those operating in rail freight
and equipment markets. He has a strong record of driving financial
performance, optimizing business processes and delivering results.
Michael will enhance financial operations and partner on strategy
development to accelerate Greenbrier's progress and elevate its
position as the global leader in freight rail supply. We are
excited to have him as a colleague and look forward to his many
positive contributions."
"Greenbrier is well-positioned in the industry for continued
growth and success. It is a privilege to join a company with
Greenbrier's history and potential, and I am pleased to join the
team writing the next chapter of the enterprise. I believe
Greenbrier's best days lie ahead, and I value the opportunity to
contribute to its growth and evolution," Donfris said.
About Greenbrier
Greenbrier, headquartered in Lake
Oswego, Oregon, is a leading international supplier of
equipment and services to global freight transportation markets.
Through its wholly-owned subsidiaries and joint ventures,
Greenbrier designs, builds and markets freight railcars in
North America, Europe and Brazil. We are a leading provider of freight
railcar wheel services, parts, maintenance and retrofitting
services in North America through
our maintenance services business unit. Greenbrier owns a lease
fleet of approximately 14,600 railcars that originate primarily
from Greenbrier's manufacturing operations. Greenbrier offers
railcar management, regulatory compliance services and leasing
services to railroads and other railcar owners in North America. Learn more about Greenbrier at
www.gbrx.com.
Forward-Looking Statements
This press release may contain forward-looking statements,
including statements that are not purely statements of historical
fact. Greenbrier uses words, and variations of words, such as
"approximately," "are" "backlog," "believe," "continue," "demand,"
"drive," "enhance," "estimate," "expect," "grow," "momentum,"
"ongoing," "optimistic," "progress," "provide," "position,"
"recurring," "strategy," "strong" "target," "will," and similar
expressions to identify forward-looking statements. These
forward-looking statements include, without limitation, statements
about backlog and other orders, leasing performance, financing,
future liquidity, cash flow, tax treatment, and other information
regarding future performance and strategies and appear throughout
this press release. 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, the following: an economic downturn and
economic uncertainty; inflation (including rising energy prices,
interest rates, wages and other escalators) and policy reactions
thereto (including actions by central banks); disruptions in the
supply of materials and components used in the production of our
products; the war in Ukraine and
related events; and the COVID-19 pandemic, variants thereof,
governmental reaction thereto, and related economic disruptions
(including, among other factors, operations and supply disruptions
and labor shortages). Our backlog of railcar units and other orders
not included in backlog are not necessarily indicative of future
results of operations. Certain orders in backlog are subject to
customary documentation which may not occur. More information on
potential factors that could cause our results to differ from our
forward-looking statements is included in the Company's filings
with the SEC, including in the "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" sections of the Company's most recently filed periodic
report on Form 10-K. Except as otherwise required by law,
Greenbrier assumes no obligation to update any forward-looking
statements or information, which speak as of their respective
dates. Readers are cautioned not to place undue reliance on these
forward-looking statements, which reflect management's opinions
only as of the date hereof.
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SOURCE The Greenbrier Companies, Inc. (GBX)
