The Greenbrier Companies announced that its CFO, Mark J. Rittenbaum, has been promoted to the newly created position of Executive Vice President, Commercial, Leasing and Finance. Lorie L. Tekorius, Senior Vice President and Treasurer, has been promoted to Senior Vice President, Chief Financial Officer and Treasurer. Both Rittenbaum and Tekorius will report to Chairman and CEO William A. Furman.

In this newly created position, Mr. Rittenbaum will shift his primary focus to commercial activities, with particular emphasis on new railcar sales, leasing and integration/enhancement of customer service design. Senior commercial officers William Glenn and Brian Comstock, as well as Jim Sharp, President of Greenbrier's Leasing and Management Services business, will report to Mr. Rittenbaum. Chairman and CEO Bill Furman said, "Greenbrier has built a tremendous 'go to market strategy' that serves its integrated business model and expanded world-wide activities. In the process, we have grown a very successful asset-light leasing and asset management business. We continue to add value solutions for our customers and shareholders, as our business becomes larger and adjusts to a changing environment. It is time to further integrate our commercial and leasing functions to better serve our goals of cost-efficient growth and service to our customers."

Mr. Rittenbaum will chair a newly created Executive Committee reporting to the Chairman and CEO. The Committee will be responsible for helping to frame policy over a wide range of business, administrative, financial and strategic areas, as well as streamlining service design and achieving service and cost synergies across the Company. The Committee will include Victoria McManus, Executive Vice President and Chief Strategic Officer, and Martin Baker, Senior Vice President, General Counsel and Chief Compliance Officer. "The Executive Committee will free up a substantial portion of my time to focus more on longer term strategies for Greenbrier, and to operate the Company." said Furman. "Global Manufacturing, the Wheels and Parts business, and GBW Railcar Services, a repair joint venture with Watco Companies, will continue to report to me."

Ms. Tekorius brings strong experience to the CFO position at Greenbrier. She has been with Greenbrier for over 20 years in various financial capacities, most recently as Senior Vice President and Treasurer, a position she has held since 2012. She is a Certified Public Accountant, with a BBA in accounting from Texas A&M University, and began her professional career with Coopers & Lybrand. "Mark and Lorie have done an excellent job at the financial helm of Greenbrier and have worked closely together for years. I'm confident we will continue our solid financial footing, and be well positioned for growth and change," said Furman. "Lorie also has the discipline and Company knowledge to help review, manage and adjust our General and Administrative expense profile to appropriate levels during changing market environments. She has chaired our strategic and budget process for several years and will continue to work with Victoria McManus and me in that important function. Adrian Downes, Greenbrier's Senior Vice President and Chief Accounting Officer, will report to Lorie. Adrian has done a great job with our IT, accounting and tax organization, and will continue to play a strong role on our senior management team."

Furman added, "Greenbrier is fortunate to have incredible depth of talent on its executive bench. I am pleased to recognize the many contributions made by Mark and Lorie and to increase their roles in senior management of Greenbrier. I am proud of our entire management team and see these changes as an opportunity to put our seasoned executive expertise to even greater use in a fluctuating environment."