Greenbrier Swaps Its Financial Chief

Railcar maker Greenbrier Companies Inc. on Wednesday said Chief Financial Officer Mark Rittenbaum would leave the post for a newly created role, to be replaced by Lorie Tekorius.

Greenbrier said Mr. Rittenbaum was named to the role of executive vice president of commercial, leasing and finance, where he will shift his focus to commercial activities, with emphasis on new railcar sales, leasing and integration and enhancement of customer service design.

Ms. Tekorius, who will take over as CFO, is a 20-year veteran of the company and has been treasurer since 2012.

Chief Executive Bill Furman said he sees the changes as "an opportunity to put our seasoned executive expertise to even greater use in a fluctuating environment."

The Lake Oswego, Ore., company's shares are down 24% in the past month. The company has been working down a hefty backlog and reported first-quarter earnings that topped analysts' views, though Mr. Furman noted at the time that backlog levels were likely to fall.

Shares of Greenbrier were inactive premarket.

Write to Anne Steele at [e-mail]

(END) Dow Jones Newswires

February 03, 2016 08:25 ET (13:25 GMT)

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