CHICAGO - FreightCar America, Inc. (NASDAQ:RAIL), a manufacturer of railroad freight cars, has announced a leadership transition with Nicholas J. Randall set to take over as President and CEO effective May 1, 2024.
Randall, who currently serves as the Chief Operating Officer, will also join the company's Board of Directors. The outgoing CEO, James R. Meyer, will assume the role of Executive Chairman of the Board, while William D. Gehl will continue his tenure on the Board as Lead Independent Director.
Randall brings over two decades of global experience in engineering and manufacturing operations to his new role. Since joining FreightCar America in 2023, he has managed the company's operations, including overseeing the completion of its manufacturing campus in Castaños, Mexico.
Meyer expressed confidence in Randall's ability to continue the company's advancement and commitment to delivering value to customers and shareholders.
In his upcoming role as Executive Chairman, Meyer will focus on strategic priorities and continue to work closely with the Board. He also acknowledged Gehl's decade of service and contributions to the company, particularly during his time as Chairman.
Randall expressed gratitude for the Board's confidence in his leadership and emphasized his commitment to scaling the business, delivering high-quality products and services, and fostering strong industry relationships.
FreightCar America, headquartered in Chicago, Illinois, has been a prominent player in the design, production, and supply of railroad freight cars and related components since 1901. The company also provides railcar repairs, rebody services, and conversions, repurposing idle rail assets for revenue service.
The company's forward-looking statements highlighted in the press release indicate expectations for financial performance and future business prospects. Still, these statements are subject to risks and uncertainties that could cause actual results to differ, including economic conditions, market fluctuations, supply chain disruptions, and competitive pressures.
This leadership announcement is based on a press release statement from FreightCar America, Inc.
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