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Greenbrier Names Donfris as CFO

May 23, 2024, 07:10 AM

The Greenbrier Companies, Inc., an international supplier of equipment and services to global freight transportation markets, announced Michael J. Donfris has been named Chief Financial Officer following a nationwide search. He joins Greenbrier from R.J. Corman Railroad Group, where he has been CFO since 2020. R.J. Corman is an independent holding company operating several short line railroads and providing a diverse range of railroad services nationwide. Donfris will initially be Senior Vice President, Finance. He will become Greenbrier's CFO and principal financial officer in July after Greenbrier files its Form 10-Q for the fiscal quarter ending on May 31, 2024.

Donfris brings nearly 40 years of experience in corporate accounting and finance, including almost 30 years in positions of increasing responsibility at Kimberly-Clark, followed by approximately eight years in the rail and rail supply industry. At R.J. Corman, he participated in developing a multi-year strategic plan and completing a range of transactions, including railroad acquisitions, which led to substantial EBITDA growth. Before this, Donfris served in senior finance roles at TrinityRail, culminating in the position of Vice President of Finance and Chief Accounting Officer. At TrinityRail, Donfris led initiatives to increase cash flow and revenues as he helped the rail business develop its growth strategy and an improved capital structure. He also transformed his areas of responsibility by creating a Finance and Accounting Academy and Leadership Program to support and enable his teams.

Lorie Tekorius, Chief Executive Officer and President, said, "We are delighted to welcome Michael to Greenbrier's executive team. Michael brings deep experience leading financial operations and implementing strategy at major industrial businesses, including those operating in rail freight and equipment markets. He has a strong record of driving financial performance, optimizing business processes and delivering results. Michael will enhance financial operations and partner on strategy development to accelerate Greenbrier's progress and elevate its position as the global leader in freight rail supply. We are excited to have him as a colleague and look forward to his many positive contributions."

"Greenbrier is well-positioned in the industry for continued growth and success. It is a privilege to join a company with Greenbrier's history and potential, and I am pleased to join the team writing the next chapter of the enterprise. I believe Greenbrier's best days lie ahead, and I value the opportunity to contribute to its growth and evolution," Donfris said.

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