Greenbrier mourns the passing of board member Patrick Ottensmeyer

Rhea-AI Summary

The Greenbrier Companies (NYSE: GBX) mourns the passing of board member Patrick J. Ottensmeyer at age 67. Ottensmeyer, who joined Greenbrier's Board in 2023, brought extensive industry and international relations expertise. He served as President and CEO of Kansas City Southern from 2015 to 2023 and played a important role in representing business interests during the creation of the USMCA. Ottensmeyer received numerous industry awards, including the NARS Edward R. Hamberger Lifetime Achievement Award in 2023 and Railway Age's Railroader of the Year in 2020 and 2022. Greenbrier's Board Chair and CEO expressed deep appreciation for Ottensmeyer's contributions to the company, its shareholders, and the broader rail industry.

Positive

• Ottensmeyer brought valuable industry and international relations expertise to Greenbrier's Board
• His experience as former CEO of Kansas City Southern enhanced Greenbrier's strategic insights
• Ottensmeyer's involvement in USMCA negotiations potentially benefits Greenbrier's cross-border operations

Negative

• Loss of a key board member with extensive industry experience
• Potential gap in expertise related to U.S.-Mexico trade relations on the board

News Market Reaction

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On the day this news was published, GBX gained 0.39%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

LAKE OSWEGO, Ore., July 30, 2024 /PRNewswire/ -- The Greenbrier Companies, Inc. (NYSE: GBX) today remembers Board member Patrick J. Ottensmeyer, who passed away this past weekend at age 67. The Company extends its deepest condolences to his family and friends.

Ottensmeyer had served on Greenbrier's Board since 2023, bringing decades of industry and international relations expertise. Ottensmeyer served as President and CEO of Kansas City Southern (KCS), a Class I railroad, from 2015 to 2023, until the completion of the merger creating Canadian Pacific Kansas City (CPKC) in 2023. Before becoming CEO, Ottensmeyer served in various roles at KCS since 2006.

Ottensmeyer had deep expertise working across the U.S.-Mexico border and was instrumental in representing business interests during the creation of the United States-Mexico-Canada Agreement (USMCA). He served as the U.S. Chairman of the U.S. Chamber of Commerce's U.S.-Mexico Economic Council (USMXECO) during this pivotal time.  He was Co-Chair of the Brookings Institute USMCA Initiative, a group focused on building more integrated and resilient supply chains. He served as Chair of the Truman Library Institute, the member-supported, nonprofit partner of the President Harry S. Truman Library & Museum.

In 2023, Ottensmeyer received the NARS Edward R. Hamberger Lifetime Achievement Award; in 2022, he received Ingram's Executive of the Year Award. Also in 2022, was Railway Age's Co-Railroader of the Year Award, in connection with the CP and KCS merger. He received the Railway Age Railroader of the Year recognition for the first time in 2020, and in 2019, he received Progressive Railroading's Railroad Innovator Award.

"Pat demonstrated a remarkable passion for this industry. From day one, he became an invaluable member of our Board of Directors. We are forever grateful for his contributions to Greenbrier, its shareholders and the broader rail industry. He will be greatly missed, as he was a wonderful friend to his Board colleagues and many at the company," said Board Chair Admiral Thomas B. Fargo (USN Retired).

"Working alongside Pat has been a privilege for the other board members and me. He was a visionary leader who left a lasting legacy for the North American rail industry and the broader trade policy landscape. The Greenbrier family offers our deepest condolences to his friends and family.  Pat will be deeply missed," said Lorie Tekorius, CEO and President.

About Greenbrier

Greenbrier, headquartered in Lake Oswego, Oregon, is a leading international supplier of equipment and services to global freight transportation markets. Through its wholly-owned subsidiaries and joint ventures, Greenbrier designs, builds and markets freight railcars in North America, Europe and Brazil. We are a leading provider of freight railcar wheel services, parts, maintenance and retrofitting services in North America through our maintenance services business unit. Greenbrier owns a lease fleet of approximately 15,200 railcars that originate primarily from Greenbrier's manufacturing operations. Greenbrier offers railcar management, regulatory compliance services and leasing services to railroads and other railcar owners in North America. Learn more about Greenbrier at www.gbrx.com.

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SOURCE The Greenbrier Companies, Inc.

FAQ

When did Patrick Ottensmeyer join Greenbrier's (GBX) Board of Directors?

Patrick Ottensmeyer joined Greenbrier's (GBX) Board of Directors in 2023.

What was Patrick Ottensmeyer's role before joining Greenbrier (GBX)?

Before joining Greenbrier (GBX), Patrick Ottensmeyer served as President and CEO of Kansas City Southern from 2015 to 2023.

What major industry awards did Patrick Ottensmeyer receive?

Patrick Ottensmeyer received the NARS Edward R. Hamberger Lifetime Achievement Award in 2023, Railway Age's Railroader of the Year in 2020 and 2022, and Progressive Railroading's Railroad Innovator Award in 2019.

How did Greenbrier (GBX) leadership respond to Patrick Ottensmeyer's passing?

Greenbrier's (GBX) Board Chair and CEO expressed deep appreciation for Ottensmeyer's contributions to the company, its shareholders, and the broader rail industry, describing him as an invaluable board member and visionary leader.