Loram has announced that CEO Phil Homan will retire in May 2023 following 30 years of service. Bradley Willems, current President and COO, will succeed him.
Hamel, Minn.-based Loram is a global supplier of track maintenance, inspection, and infrastructure optimization services and equipment to freight and passenger railroads. It has offices in Georgetown, Tex.; Brisbane, Australia; Derby, U.K.; Curitiba, Brazil; and Tampere, Finland.
Homan joined the company in 1993 as Controller, and held various management positions—including General Manager Europe, Manager Business Development, Vice President Marketing, and Executive Vice President—before being appointed as President and CEO and to the Board of Directors in 2008.
Homan has served for more than 10 years on the Board of the Railway Engineering-Maintenance Suppliers Association. As its President in 2011 and 2012, he worked with the Railway Supply Institute; Railway Systems Suppliers, Inc.; and American Railway Engineering and Maintenance-of-Way Association to form Railway Interchange, the North American railway industry’s joint trade show and technical conference.
To ensure a smooth leadership transition, starting Jan. 1, 2023, Homan will take on an Executive Director role and Willems will become President and CEO. Homan will continue as a Board Member beyond May as Vice Chair and Director of Loram’s parent company, Coril Holdings Ltd.
“The relationships Phil has developed across the globe, with employees, industry leaders, government bodies and agencies, and the community, have been a significant part of Phil’s success, putting Loram on the global map,” Loram Chairwoman Deanna Zumwalt said.
“Brad has a long and distinguished career in the public accounting world with RSM McGladrey; his various leadership roles in finance, supply chain and business development at Supervalu; and the last 10 years here at Loram as Director of Sales and Marketing, CFO, and most recently President and COO,” Homan said. “These roles and experiences have made him uniquely qualified to take on this challenge and chart the course for the future of Loram. From my perspective, the best days of Loram are in front of us, and I cannot wait to be a part of that success, albeit in a very different role.”