DALLAS--(BUSINESS WIRE)--
Trinity Industries, Inc. (NYSE:TRN) (“Trinity” or the “Company”) today
announced that James E. Perry, the Company’s current Senior Vice
President and Chief Financial Officer, has notified the Company of his
decision to transition from employment with the Company to pursue other
opportunities. Mr. Perry will remain in the Chief Financial Officer role
until Trinity has filed its Annual Report on Form 10-K for the year
ended December 31, 2018. The Company plans to enter into a transition
agreement with Mr. Perry consistent with the terms of Trinity’s
executive officers’ Transition Compensation Plan.
The Company also announced that Melendy Lovett will assume the role of
Senior Vice President and Chief Financial Officer following the filing
of the Company’s 2018 Form 10-K. Ms. Lovett’s current role with the
Company is Senior Vice President and Chief Administrative Officer, and
she has oversight of the Company’s railcar leasing business. Ms. Lovett
also led the Company’s recent spin-off of Arcosa, Inc. to Trinity’s
shareholders.
Prior to joining Trinity as an executive, Ms. Lovett was a member of
Trinity’s Board of Directors and had a 20-year career with Texas
Instruments (“TI”), most recently as Senior Vice President and President
of TI’s education technology business. Prior to joining TI, she was a
senior manager with Coopers & Lybrand. Ms. Lovett is a Certified Public
Accountant in the state of Texas. She holds a Bachelor's degree in
Management from Texas A&M University, and a Master's degree in
Accounting from the University of Texas at Dallas.
Upon Ms. Lovett’s assumption of the Chief Financial Officer role, Relle
Howard, the Company’s Vice President and Chief Information Officer will
assume the role of Trinity’s Chief Administrative Officer.
Mr. Howard joined the Company in 2016. Prior to joining Trinity, he was
Vice President of Information Technology at Flowserve Corporation. Prior
to his service at Flowserve, Mr. Howard served as the Manufacturing
Information Technology Director for Celanese Chemicals, held several
operation and technology-related roles while employed at Alcatel, and
served in the United States Army, 1st Cavalry Division at Ft. Hood,
Texas. Mr. Howard received an Executive MBA from The University of Texas
at Dallas and earned a B.S. in Management and Systems Engineering from
the United States Military Academy at West Point.
“I am excited for Melendy to assume the role of Chief Financial Officer,
and for Relle to become our Chief Administrative Officer,” said Timothy
R. Wallace, Trinity’s Chairman, Chief Executive Officer and President.
“It speaks to the strength of the Company’s executive team to promote
excellent leaders from within our organization. Melendy and Relle are
ideally suited for their new roles, and I expect the transitions to be
smooth. I continue to be enthusiastic about Trinity’s future. I would
like to thank James for his 14 years of service to Trinity, including
over eight years as our CFO, and his leadership role in the successful
spin-off of Arcosa to Trinity’s shareholders. James has done an
excellent job building a strong finance and accounting leadership team
at Trinity, and I look forward to their ongoing contributions. I wish
him the best in his future endeavors.”
“As we close 2018, I am very pleased with all of our accomplishments
this year,” Wallace continued. “We have already made significant
progress on the optimization of our capital structure since the
spin-off, including the recently announced $350 million accelerated
share repurchase program. I am optimistic for our prospects to grow
through organic and external initiatives while we continue to optimize
the capital structure and seek ways to add shareholder value through our
concentration of focus on the North American rail industry.”
About Trinity Industries
Trinity Industries, Inc., headquartered in Dallas, Texas, owns
businesses that are leading providers of rail transportation products
and services in North America. Our rail-related businesses market their
railcar products and services under the trade name TrinityRail®. The
TrinityRail integrated business platform provides railcar manufacturing,
maintenance and modifications, as well as railcar leasing and management
services. Trinity also owns businesses engaged in the manufacture of
products used on the nation’s roadways and in traffic control, as well
as logistical and transportation businesses that provide support
services to a variety of industrial manufacturers. Trinity reports its
financial results in three principal business segments: the Rail Group,
the Railcar Leasing and Management Services Group, and the All Other
Group. For more information, visit: www.trin.net.
Some statements in this release, which are not historical facts, are
“forward-looking statements” as defined by the Private Securities
Litigation Reform Act of 1995. Forward-looking statements include
statements about Trinity's estimates, expectations, beliefs, intentions
or strategies for the future, and the assumptions underlying these
forward-looking statements, including, but not limited to, future
financial and operating performance, future opportunities and any other
statements regarding events or developments that Trinity believes or
anticipates will or may occur in the future. Trinity uses the words
“anticipates,” “assumes,” “believes,” “estimates,” “expects,” “intends,”
“forecasts,” “may,” “will,” “should,” “guidance,” “projected,”
“outlook,” and similar expressions to identify these forward-looking
statements. Forward-looking statements speak only as of the date of this
release, and Trinity expressly disclaims any obligation or undertaking
to disseminate any updates or revisions to any forward-looking statement
contained herein to reflect any change in Trinity’s expectations with
regard thereto or any change in events, conditions or circumstances on
which any such statement is based, except as required by federal
securities laws. Forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially from
historical experience or our present expectations, including but not
limited to risks and uncertainties regarding economic, competitive,
governmental, and technological factors affecting Trinity’s operations,
markets, products, services and prices, and such forward-looking
statements are not guarantees of future performance. For a discussion of
such risks and uncertainties, which could cause actual results to differ
from those contained in the forward-looking statements, see “Risk
Factors” and “Forward-Looking Statements” in Trinity’s Annual Report on
Form 10-K for the most recent fiscal year, as may be revised and updated
by Trinity’s Quarterly Reports on Form 10-Q, and Trinity’s Current
Reports on Form 8-K.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181217005162/en/
Investor & Media Contact:
Jessica
L. Greiner
Vice President, Investor Relations and Communications
Trinity
Industries, Inc.
(Investors) 214/631-4420
(Media Line)
214/589-8909
Source: Trinity Industries, Inc.