DALLAS--(BUSINESS WIRE)--
Trinity Industries, Inc. (NYSE:TRN) (“Trinity” or the “Company”) today
announced that Eric R. Marchetto, currently Executive Vice President and
Chief Commercial Officer of TrinityRail, has been named Senior Vice
President of Trinity and Group President of TrinityRail. The Company
also announced the separation of the roles of Chairman of the Board of
Directors and Chief Executive Officer. Leldon E. Echols, currently
presiding director, has been named non-executive Chairman of the Board
of Directors. Timothy R. Wallace will remain as the Company’s Chief
Executive Officer, President, and a member of the Board of Directors.
As Group President of TrinityRail, Mr. Marchetto will have oversight and
responsibility for the Company’s railcar leasing and railcar products
segments. Mr. Marchetto has been a key contributor towards the
development, growth, and evolution of the railcar leasing,
manufacturing, and services businesses into Trinity’s integrated rail
platform. In addition to his current role as Chief Commercial Officer,
he has served in a number of capacities during his 23 year career with
Trinity, including TrinityRail’s Chief Financial Officer, Senior Vice
President of Capital Markets, and Executive Vice President of Leasing.
Mr. Marchetto began his career with Ernst and Young in their audit
practice. Mr. Marchetto graduated from Southern Methodist University in
1992 with Bachelor degrees in Accounting and Economics.
“Eric is a highly respected, talented individual and leader who has
strengthened our relationships with current and potential customers
leveraging the integrated rail platform of products and services,” said
Mr. Wallace. “Eric’s background and experience within Trinity is highly
valuable to the leadership team as we look to enhance our returns for
shareholders and build upon the integrated rail platform.”
On the recommendation of Mr. Wallace, Trinity’s Board of Directors
separated the roles of Chairman and Chief Executive Officer. In his role
as Chairman, Mr. Echols will provide independent oversight and
direction, and preside at meetings of the Board of Directors. Mr. Echols
has served as an independent member of Trinity’s Board of Directors
since 2007 and as presiding director since 2013.
“Lel has done an excellent job serving as presiding director,” Mr.
Wallace said. “I respect his judgment, his communication skills, and his
ability to provide board level leadership. The timing is right for the
separation of roles. It will allow me to concentrate my focus on the
company’s business strategies, operations, and other corporate
activities at this critical time in Trinity’s evolution. It will also
benefit the long-term interests of our stakeholders and strengthen our
corporate governance structure. I have great confidence that Lel will be
an extremely effective chairman, and I look forward to working with him
for many years to come.”
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190319005956/en/
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.