August 12, 2022

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GATX CEO Kenney retiring in April; EVP to succeed him

Leadership at railcar lessor GATX will be altering future spring.

President and CEO Brian A. Kenney is retiring, powerful April 22, and Robert C. Lyons, a GATX government vice president and president of its Rail North The usa division, will succeed him, the business announced Tuesday.

Kenney will remain on as a nonexecutive chairman with GATX’s (NYSE: GATX) board of administrators as a result of Oct. 31 to make certain a easy transition. 

Lyons prospects GATX’s largest small business and served as main fiscal officer from 2004 to 2018. GATX’s board of administrators appointed him, and at the 2022 yearly shareholders conference, the board will nominate Lyons to serve on the board.

“GATX is in a powerful position nowadays and Brian has delivered superb leadership to established the firm up for continued achievements,” explained James Ream, guide director of the board. “He has thoughtfully expanded the portfolio of assets, equally organically and via strategic acquisitions, enabling GATX to regularly deliver field-primary monetary returns. Brian instituted a constant enhancement mentality all over the company, placing the business normal for protection, top quality and purchaser assistance. He has also championed growing chances for individuals of all backgrounds inside of GATX’s throughout the world operations. Thanks to Brian’s management and vision, GATX has the best group in the company and is regarded as the world-wide chief in the entire-assistance leasing of lengthy-lived assets. …

“With the strong foundation founded by Brian, the board is extremely self-confident that Bob is the appropriate chief to be GATX’s upcoming CEO,” Ream ongoing. “The board ran a deliberate and considerate succession course of action with the assistance of Spencer Stuart, a primary global executive look for and leadership consulting company. Bob was chosen for his robust business enterprise acumen, operational abilities and eyesight needed to guidebook GATX to its up coming phase of development and excellence. Bob has been intimately included in shaping the company’s tactic and has been a considerable contributor to GATX’s success as both the head of our premier company as nicely as our CFO for a lot more than a ten years.”

The improve in management comes as railcar lessors, alongside with the broader rail industry, grapple with an predicted rebound in rail volumes as properly as source chain problems. Integrating technologies and provide chain visibility is also a essential situation.

“It has been a privilege to serve as CEO for the previous 17 years and to function with the most focused team in the industry,” Kenney stated. “I am very pleased of all that we have accomplished alongside one another, and I appear ahead to collaborating with Bob and our board of administrators to assist GATX attain even larger concentrations of results. Bob has been a shut spouse to me, and his leadership, expertise and eyesight will be significant in driving GATX forward as the premier worldwide, entire-service lessor.”

Reported Lyons: “Together with the GATX leadership team and all our colleagues, I will develop on the robust basis and strategy that Brian established and guarantee we continue on to provide modern, unparalleled services to our shoppers. With the commitment of our exceptional employees, I am fired up about the potential of GATX as we develop our international enterprises, work safely and deliver powerful success for all our constituents.”

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