Trinity Industries, Inc. announced James E. Perry, 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.
Perry will remain as CFO until Trinity has filed its Annual Report on Form 10-K for the year ended Dec. 31, 2018. The company plans to enter into a transition agreement with Perry consistent with the terms of Trinity’s executive officers’ Transition Compensation Plan.
The company also announced 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. Lovett’s current role is Senior Vice President and Chief Administrative Officer, and she has oversight of the company’s railcar leasing business. Lovett also led the company’s recent spinoff of Arcosa, Inc. to Trinity’s shareholders.
Prior to joining Trinity as an executive, 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 Lovett’s assumption of the CFO role, Relle Howard, Vice President and Chief Information Officer, will assume the role of Chief Administrative Officer.
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, 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. 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.”
Trinity Industries, headquartered in Dallas, owns businesses that are leading providers of rail transportation products and services in North America. It reports its financial results in three principal business segments: the Rail Group, the Railcar Leasing and Management Services Group, and the All Other Group.