The Greenbrier Companies, a supplier of equipment and services to global freight transportation markets, announced a new business operations organizational structure supporting its “Better Together” business strategy, which was unveiled at its April 2023 investor day. The streamlined organization is designed to drive organizational effectiveness, improve efficiency, leverage best practices and improve customer experience to drive greater shareholder value. The company also announced planned changes in the CFO role and the completion of a succession plan for the leadership of its legal function.
“Since Greenbrier’s formation in the 1980s, we have grown to lead in all markets where we operate,” Lorie Tekorius, CEO and president of Greenbrier, said. “Now is the time to leverage the benefits of scale and standardization. The changes being announced today will bring greater focus and accountability to our operating units while driving efficiency in our enabling functions. To advance to Greenbrier’s next growth phase, we must continue collaborating and working better together as a unified organization.”
Greenbrier’s structure now frames its operating activities in two distinct geographies: the Americas and Europe. Brian Comstock, a 26-year Greenbrier veteran with more than four decades of railway industry experience, assumed responsibility for all operations in the Americas, which includes the U.S., Mexico, Canada and Brazil. William Glenn, who has spent more than 20 years at Greenbrier in various roles, assumed responsibility for all operations in Europe. Greenbrier’s board of directors also appointed Comstock executive vice president and president of the Americas and Glenn senior vice president and president of Europe. Both Comstock and Glenn will continue to report to Tekorius.
“I am confident changes in our business operations will support progress on our strategic priorities and Greenbrier will continue to excel as we simplify our structure. These changes are intended to support and empower Greenbrier employees across the organization. The new organizational design of our business operations provides the right platform for the next phase of our growth and to deliver value for all Greenbrier stakeholders, especially our employees, customers and shareholders,” Tekorius said.
In addition to Greenbrier’s new business operations framework, Adrian Downes will step down as CFO on or about March 31. Downes will continue as Greenbrier’s principal financial officer until he transitions to serve the company as a senior advisor to the CEO through March 2025. Greenbrier has begun a search for its next CFO.
“Among his many contributions, Adrian took actions critical to strengthening our balance sheet, helped Greenbrier’s expanding global operations platform integrate with accounting and finance, and aided the development of our long-term strategic plan. We appreciate Adrian’s dedication and service,” Tekorius said.
Additionally, on Jan. 4, Greenbrier’s board appointed Christian Lucky senior vice president and chief legal and compliance officer (CLO/CCO), reporting to Tekorius. Lucky’s appointment completed a planned succession from Martin Baker, who served as CLO/CCO since 2008. Baker now serves as senior vice president, reporting to Tekorius.
“Over 16 years of service, Martin modernized Greenbrier’s legal function. Under his leadership, our legal team helped Greenbrier adapt and respond to the challenges of rapid growth,” Tekorius said. “Christian possesses the right background and experience to lead Greenbrier’s newly-formed legal and administration team to address our future needs.”
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