Greenbrier: Tekorius Taking the Throttle March 1

Lorie Tekorius

Greenbrier President and Chief Operating Officer Lorie Tekorius on March 1 will become the company’s next CEO and President, succeeding Co-founder, Chairman and CEO William A. Furman; Furman will serve as Executive Chair, retaining responsibility for certain line functions until Aug. 31, 2022, the end of Greenbrier’s fiscal year.

The Greenbrier Companies announced the moves last fall.

Tekorius, a 26-year Greenbrier veteran and 2018 Railway Age Women in Rail honoree, has been working most recently “with Furman and key leaders to grow Greenbrier at scale; to enhance its core business strengths of Engineering, Manufacturing, Commercial and Leasing; to develop its international business, while advancing workplace diversity, equity and inclusion; and creating a strong external and internal talent pipeline along with succession planning for key management,” the company reported on Feb. 28. Prior to her promotion to President and Chief Operating Officer in 2019, Tekorius, 54, was Chief Financial Officer.

Additionally, since 2019, she has served as an independent director on the Board of Alamo Group Inc., which manufacturers equipment for infrastructure maintenance, agricultural and other applications.

Furman, 76, will retire from all executive offices after Aug. 31, but his current Board term will continue until January 2024. He remains a top-15 shareholder in Greenbrier, based on total shareholdings, according to the company.

Furman began his career in 1967 in the Treasury Department of FMC Corporation, a Fortune 500, multinational industrial and national defense company. He formed the FMC Finance Division, which financed a broad array of railcars and other products from the company’s machinery group, such as Link Belt Speeder Cranes, agricultural equipment from its John Bean Division, snowmobiles, garden tractors, irrigation equipment, airport equipment, and fire trucks. Furman joined Trans Pacific Financial Corporation in 1971 to run the Leasing, Lease Underwriting and Syndication business unit. In 1974, he and Alan James, a friend and early pioneer in commercial jet aircraft leasing, purchased the Trans Pacific National division, a capital lease asset underwriter. “The purchase created James Furman and Co., a lifelong partnership, initially specializing in railcar and commercial jet aircraft asset management and remarketing businesses,” Greenbrier reported. This acquisition would eventually lead to the founding of Greenbrier in its present form in 1981. The original leasing company expanded into manufacturing with the acquisition of Gunderson in Portland in 1985 from FMC. 

“Lorie’s contributions to Greenbrier are outstanding and worthy of her new role,” Furman said. “She has excelled in assignments of increasing responsibility throughout her long career with Greenbrier. Lorie epitomizes the company’s values of respect for humanity, integrity and the interests of all stakeholders. Lorie’s dedication to Greenbrier and the transportation industry extends over more than two decades. The Board of Directors and I are confident her tenure and leadership will drive high impact outcomes. Greenbrier is a global freight equipment and services provider with a strong foundation in place for long-term growth. Lorie’s vision for the company is innovative and strategic. I am proud that tomorrow she becomes Greenbrier’s second-ever CEO.”

“We are pleased to elevate an internal leader with a proven track record and management capabilities to chart Greenbrier’s future,” Lead Director Admiral Thomas B. Fargo (USN Retired) said of Tekorius. “On behalf of Greenbrier’s Board, we thank Bill for his outstanding leadership and deep commitment to the organization. His contributions as Founder and CEO will be long remembered both at Greenbrier and throughout the freight transportation industry he redefined through his leadership. During his tenure, Bill transformed Greenbrier into a publicly traded company valued in the billions of dollars. His innovation, unrelenting focus and dedication to safety, quality and respect will long remain in the fabric of Greenbrier’s culture and operations.”

“I’m deeply honored to have the opportunity to succeed Bill,” Tekorius said. “I will continue to build on the strong foundation that Bill has established as we move to the next phase of meeting the world’s evolving freight transportation needs. I am highly confident about our future and look forward to further accelerating the value we bring to our stakeholders.”