Greenbrier Appoints Tekorius CEO, Furman to Transition to Executive Chair

The board of directors of the Greenbrier Companies, a supplier of equipment and services to global freight transportation markets, appointed Lorie Tekorius the company’s next CEO and president. Tekorius, who currently serves as president and chief operating officer, will step into the new role on March 1, 2022. On the same date, William A. Furman, co-founder, chairman and current CEO of Greenbrier, will assume the newly created role of executive chair until his retirement. As announced in July 2020, Furman will retire from all executive offices in September 2022. His current board term will continue until January 2024.

“As chairman and CEO, along with our board, we have prioritized succession planning and talent development,” Furman said. “Greenbrier’s management model requires a high degree of cooperation and coordination among senior leadership. Adhering to this approach, the company has prospered. Lorie’s dedication to Greenbrier is indisputable. I am confident that she is a leader who will take Greenbrier boldly into the future and as CEO will drive our business forward. Lorie and I have worked together toward this goal for a long time. I know she is well prepared for all that lies ahead. I am very proud that Lorie will be our next CEO.”

Tekorius joined Greenbrier in 1995. She has since risen through positions of increasing leadership and impact across the company, including strategic planning and roles interfacing with the company’s commercial and manufacturing units. Prior to her appointment as president in 2019, she served as COO and earlier as senior vice president and CFO.

“Working closely with Bill, the board evaluated a range of options over several years for an eventual CEO transition,” Admiral Thomas B. Fargo (USN retired), lead director of Greenbrier’s board, said. “It became evident that Lorie is by far the best candidate to serve as Greenbrier’s next CEO. The race for talent across industries is very real. Our board is pleased we have been able to advance to CEO an internal candidate with Lorie’s range and record of service. We are confident Greenbrier will be well-served by her knowledge, experience and leadership.”

Tekorius has received multiple public recognitions for her leadership in the rail industry and within the communities where Greenbrier operates. In 2017, she was one of 25 women recognized as “Women of Influence” by the Portland Business Journal. In addition, in 2018, the Portland Business Journal named Tekorius CFO of the Year. Also in 2018, she was recognized as one of 14 “Women in Rail” by Railway Age in recognition of her contributions to the industry. Tekorius was a 2020 National Association of Manufacturers’ STEP Ahead honoree, which is awarded to women in science, technology, engineering and production careers who exemplify leadership at their companies.

Since 2019, Tekorius has served as an independent director on the board of directors of Alamo Group, a manufacturer of equipment for infrastructure maintenance, agricultural and other applications. Tekorius also serves as president of the Providence St. Vincent Medical Foundation council of trustees.

“It has been a privilege to devote the bulk of my career to Greenbrier, growing and learning every day,” Tekorius said. “I am truly honored and humbled to follow Bill as only the second CEO in Greenbrier’s history. I am confident that, working collaboratively with our senior management team, we will meet the high expectations of all our stakeholders.”

Furman began his career with FMC Corporation, a Fortune 500, multinational industrial company. At the age of 25, he became the first general manager of the FMC Finance division, a captive sales finance arm for FMC which he founded. Subsequently, Furman joined Trans Pacific Financial, a publicly traded financial services company located in Portland, OR. Until 1974, he was corporate vice president of Trans Pacific’s leasing group and was responsible for all phases of its operations. In late 1974, Furman and Alan James acquired the Trans Pacific National division, a capital lease asset underwriter, and entered the railcar and commercial jet aircraft remarketing and asset management business. This acquisition would eventually lead to the founding of Greenbrier in its present form in 1981.

The original leasing company expanded into manufacturing with the acquisition of Gunderson in Portland, OR, in 1985 from FMC. Furman has guided Greenbrier through the expansion of its products and service offerings. What was once two railcar production lines is now a multibillion-dollar, global production operation, which includes 12 facilities on three continents, integrated with aftermarket, leasing and services businesses.

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