GATX Corporation Announces Transition Plan for Vice President - Government and Industry Affairs at Rail North America

Rhea-AI Summary

GATX (NYSE: GATX) has announced a transition in its leadership team at Rail North America. Wesley J. Lujan will take on the role of vice president of government and industry affairs, succeeding Terrence G. Heidkamp, who will retire at the end of 2024. Lujan joins GATX from Union Pacific, where he served in various roles over 17 years, most recently as assistant vice president of external relations. The transition will involve a six-month overlap between Heidkamp and Lujan to ensure a smooth handover. Lujan holds degrees from California State University at Chico and the University of Southern California and will be based in Washington, DC. GATX has a long history of leasing transportation assets and has maintained consistent dividend payments since 1919.

Positive

• Wesley J. Lujan's extensive experience in government and public affairs, specifically from Union Pacific, adds significant value to GATX.
• Smooth leadership transition with a six-month overlap period ensures continuity and stability.
• GATX has a strong legacy, having paid uninterrupted quarterly dividends since 1919.

Negative

• Potential uncertainty during the transition period, despite the planned overlap.
• Retirement of Terrence G. Heidkamp after over three decades may result in a temporary loss of institutional knowledge.

CHICAGO--(BUSINESS WIRE)-- GATX Corporation (NYSE: GATX) today announced that Wesley J. Lujan will be appointed vice president, government and industry affairs, succeeding Terrence G. Heidkamp, who will retire at the end of 2024. In his new role, Mr. Lujan will be responsible for GATX’s relationships with North American rail industry associations and regulatory and legislative bodies.

Mr. Lujan will join GATX from Union Pacific after his tenure ends on July 5, 2024. At Union Pacific, Mr. Lujan has served in a variety of government and public affairs roles for 17 years, most recently as assistant vice president of external relations. Mr. Lujan and Mr. Heidkamp will work together over a six-month transition period once Mr. Lujan formally joins GATX.

“We are pleased to welcome Wes to GATX,” said Paul F. Titterton, executive vice president and president of GATX Rail North America. “His extensive experience makes him well-suited to represent and promote GATX’s interests with the many government and industry bodies with whom we interact regularly. This announcement is bittersweet for GATX as we will miss Terry. We are grateful for Terry’s three-plus decades of dedicated and capable service to GATX and the rail industry, and we wish him the very best in his retirement.”

Mr. Lujan holds a bachelor’s degree from California State University at Chico and a master’s degree in public administration from the University of Southern California. He will continue to be located in the Washington, DC area.

COMPANY DESCRIPTION

At GATX Corporation (NYSE: GATX), we empower our customers to propel the world forward. GATX leases transportation assets including railcars, aircraft spare engines and tank containers to customers worldwide. Our mission is to provide innovative, unparalleled service that enables our customers to transport what matters safely and sustainably while championing the well-being of our employees and communities. Headquartered in Chicago, Illinois since its founding in 1898, GATX has paid a quarterly dividend, uninterrupted, since 1919.

AVAILABILITY OF INFORMATION ON GATX'S WEBSITE

Investors and others should note that GATX routinely announces material information to investors and the marketplace using SEC filings, press releases, public conference calls, webcasts and the GATX Investor Relations website. While not all of the information that the Company posts to the GATX Investor Relations website is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media and others interested in GATX to review the information that it shares on www.gatx.com under the “Investors” tab.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240521477259/en/

GATX Corporation

Shari Hellerman

Senior Director

Investor Relations, ESG, and External Communications

312-621-4285

shari.hellerman@gatx.com

Source: GATX Corporation

FAQ

Who will succeed Terrence G. Heidkamp as vice president of government and industry affairs at GATX?

Wesley J. Lujan will succeed Terrence G. Heidkamp as vice president of government and industry affairs at GATX.

When will the leadership transition at GATX Rail North America be completed?

The leadership transition will be completed by the end of 2024.

What experience does Wesley J. Lujan bring to GATX?

Wesley J. Lujan brings over 17 years of experience in government and public affairs from Union Pacific.

What is the significance of the six-month transition period between Lujan and Heidkamp?

The six-month transition period ensures a smooth handover and continuity of leadership.

Where will Wesley J. Lujan be based after joining GATX?

Wesley J. Lujan will be based in the Washington, DC area.

What is GATX 's business focus?

GATX focuses on leasing transportation assets, including railcars, aircraft spare engines, and tank containers.

How long has GATX been paying uninterrupted quarterly dividends?

GATX has been paying uninterrupted quarterly dividends since 1919.