Textainer Group Holdings Limited (TGH), one of the largest lessors of intermodal containers, announced that after 22 years Philip K. Brewer, President and Chief Executive Officer, has retired.

As part of the succession planning process, the board of directors announced it has appointed Olivier Ghesquiere, currently Executive Vice President - Leasing, to be the President and CEO. Ghesquiere will also be appointed to the board.

Brewer has led TGH since September 2011. He joined Textainer in 1996 and held positions responsible for finance, risk management and resale prior to his tenure as CEO.

Ghesquiere joined Textainer in December 2015 as Senior Vice President for Sales and Marketing and was promoted to Executive Vice President-Leasing in January 2017. He previously worked at Groupe Ermewa S.A. as Chief Executive Officer where he was responsible for growing the railcar and locomotive fleet to become the second largest in Europe. Prior to Groupe Ermewa S.A., he was the Managing Director for Eurotainer S.A. where he developed their tank container business and served as vice chairman and chairman of the International Tank Container Organization (ITCO) leasing committee.

Hyman Shwiel, Chairman of TGH, said, “The Board of Directors and Textainer’s employees thank Mr. Brewer for his many years of dedicated service and leadership to the company, during which time Textainer has grown to be one of the largest lessors of intermodal containers. We wish him the best of luck in his well-deserved retirement and will always consider him a valuable member of the Textainer family. Mr. Ghesquiere has been a part of the Textainer Executive Management Team for the last two years and has proven to be a talented leader. The Board of Directors is confident in his successful transition to President and CEO.”

Brewer stated, “I have had the enormous privilege of working at Textainer for 22 years, seven of which were as President and CEO. During that time, I have been honored to work with the industry’s most dedicated group of professionals focused on serving our more than 300 shipping line customers located around the world. Given Textainer’s improving financial performance, strong financial position and a customer base which is increasingly relying on container lessors for support, I believe the time is right for Textainer to move forward with a new CEO. Mr. Ghesquiere’s more than 25 years of equipment leasing industry experience working in both Asia and Europe make him uniquely qualified to lead Textainer in the years ahead.”