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FreightCar America, Inc. Announces New Organizational Structure

Stocks in this article: RAIL

FreightCar America, Inc. (NASDAQ:RAIL) today announced a new organizational structure to better align the company’s resources with its strategic priorities.

The new structure involves the realignment of various functions and the creation of new leadership roles, each of which will report to Joseph (Joe) E. McNeely, President and Chief Executive Officer. The changes include the implementation of a leaner organization structure, the creation of a new railcar product development function and the realignment of the company’s repair and parts businesses.

In the new structure, Sean Hankinson, currently Vice President of Sales, North America, will serve as the Vice President, Manufacturing Operations where he will be responsible for Railcar Production and Engineering, Purchasing, Quality, and Environmental, Health and Safety (EH&S). Mr. Hankinson, who has been with FreightCar America for 21 years, has held various positions in the areas of manufacturing engineering, operations leadership and sales. To ensure continuity of customer service, Theodore W. Baun, the company’s Senior Vice President, Marketing and Sales, will assume direct responsibility for Mr. Hankinson’s current North American sales leadership activities.

Gregory P. Josephson, who most recently served as the Senior Manager of Product Development, will serve as the Vice President, New Product Development, and will oversee all new railcar product development. In this role, he will oversee a dedicated cross functional team to identify and bring new railcar types to market. Mr. Josephson has more than 18 years of experience at FreightCar America, holding various positions in Engineering.

The railcar Repair Business will be led by James T. Allen who will serve as General Manager of the business. Mr. Allen joined FreightCar America in 2012 as the General Manager for repair shop operations. Previously, he gained significant railcar repair and repair operations experience by leading those functions during his 20 years at GATX.

The company is also realigning its parts operations under a newly created Parts Business. An active search is currently underway to identify a leader for this business.

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