Rail industry veteran Theodore W. “Ted” Baun will be joining MUL Railcars, Inc. (MULR), a subsidiary of Mitsubishi UFJ Lease & Finance Company Limited (MUL), as Chief Commercial Officer, effective July 1. He will be responsible for fleet utilization, revenue generation and customer support operations, as well as “playing an integral role as part of the corporate leadership of MULR in planning and architecting the growth of the platform and the fleet as we drive toward our near-term objective of having a 25,000-car portfolio by the end of 2020,” the company said.
Baun brings 25 years of experience in the railcar industry to MULR. Previously, he served with FreightCar America, Inc. as Vice President and CCO with responsibilities for new car manufacturing, leasing and aftermarket parts and services. Baun also led the company’s strategic planning, business development and international initiatives.
“Ted is a tremendous addition to the MULR leadership team,” said MULR CEO J.T. Sharp. “His commitment to value creation, partnership, customer focus and integrity coincide perfectly with the culture we are building at MULR. His background, experience and vision will be instrumental in helping us achieve our goals, both in the near-term and in the future.”
MUL is a global leasing company headquartered in Tokyo, Japan. Incorporated in April 1971, the company focuses on leasing, installment sales, various types of financing and international business. MUL principal shareholders are Mitsubishi Corporation and Mitsubishi UFJ Financial Group, Inc. MUL is publicly listed on the Tokyo Stock Exchange (TSE:8593) and the Nagoya Stock Exchange (NSE:8593).
MULR, based in Portland, Ore., describes itself as “an emergent power in the North American railcar leasing and management business, offering best-in-class asset management capabilities combined with a uniquely experienced and talented team dedicated to customer solutions. MULR offers a complete railcar leasing solution set with railcar asset management, regulatory support, specialized services and leasing products that provide customers with the options they need.”