Michael McCarthy will succeed Eugene (Gene) Henneberry as President and CEO of railcar lessor SMBC Rail Services.
Henneberry will retire, effective July 9. McCarthy is being elevated to the role after serving for the past five years as a Senior Vice President of SMBC Rail Services.
McCarthy joined SMBC in December 2013 as Vice President, Portfolio Management, when SMBC completed its acquisition of Flagship Rail Services. He was responsible for implementing the Direct Market sales strategies and managing the Rail Services customer service team.
With more than 20 years of railcar leasing experience, McCarthy has held positions at Flagship Rail Services/AIG Rail Services, GE Capital Rail Services and GATX Corp. He also served as Vice President of Financial Planning and Analysis at Merrill Lynch Capital.
“Michael’s promotion is another tangible example of our strong pipeline of senior talent, ready to take on a leadership role,” said Hiro Hyakutome, CEO and Head of SMBC Americas Division, and President and CEO of SMBC Americas Holdings, Inc. “I look forward to our continued partnership to help strengthen and grow this business.
“Gene’s achievements were many over the past 15 years, building the business to more than 60,000 railcars and 70 employees, [and] operating offices in two cities, and commercial locations in nine cities and two countries. Our organization thanks Gene for his many contributions and his commitment and wish him continued success in his future endeavors.”
“I am deeply honored to have had the opportunity to work with the most talented and passionate team in the rail industry,” Henneberry said. “Having led this team through the financial crisis, two company sales, the acquisition of American Railcar Leasing, and most recently the COVID-19 pandemic has been challenging at times and without a doubt the most fulfilling professional time of my life. Michael was one of the original members of my team. His experience leading the portfolio management, commercial and customer service teams provides a unique perspective. He is best suited to lead this business through its next chapter.”