Monday, December 21, 2009

FreightCar America CEO leaves “by mutual consent”

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Chicago-based FreightCar America, Inc. announced Sunday that Chief Executive Officer Christian Ragot had stepped down from his post “by mutual consent.”

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Edward Whalen will succeed Ragot; Whalen joined FreightCar America as one of a group of investors who acquired its predecessor company in 1991. He served as FreightCar America's senior vice president of marketing and sales from December 2004 to September 2008, at which point he retired, the company said.

Whalen said in a statement that his top priority was to "optimize the company's performance in 2010, with a continued view to preserving our strong balance sheet."