Greenbrier mourns the passing of board member David L. Starling

Rhea-AI Summary

The Greenbrier Companies (NYSE:GBX) announced the passing of Board member David L. Starling at the age of 73. Starling, who had been with the board since 2017 and was recently re-elected with over 98% shareholder support, contributed significantly to the company during pivotal moments, including the acquisition of American Railcar Industries and navigating the impacts of COVID-19. His extensive experience in the rail industry, including a former role as President and CEO of Kansas City Southern, greatly benefited Greenbrier. The company extends condolences to his family and acknowledges his lasting impact on the board and the broader rail community.

Positive

• Starling served on the Board since 2017, recently re-elected with over 98% shareholder support.
• His expertise aided Greenbrier during the acquisition of American Railcar Industries.
• Starling played a key role in navigating the impacts of COVID-19 for the company.
• He brought decades of rail industry experience, enhancing board decisions.

Negative

• The passing of a long-serving board member may create a leadership gap.

LAKE OSWEGO, Ore., Feb. 27, 2023 /PRNewswire/ -- The Greenbrier Companies, Inc. (NYSE:GBX) today remembers Board member David L. Starling, who passed away at the age of 73. The Company extends its condolences to his family, particularly his wife Candace and his two sons, Zach and Jeff, all great supporters of his many endeavors, including his years of service to Greenbrier. He is remembered as a dear friend, admired colleague and devoted husband and father.

Starling served on Greenbrier's Board since 2017. Last month, Starling was reelected to a three-year term on Greenbrier's Board of Directors, with more than 98% of shareholder support. As a Greenbrier board member, Starling helped guide the Company during its acquisition of the American Railcar Industries (ARI) manufacturing business, and later, would play a key role in advising Greenbrier's response to the impacts wrought by COVID-19.

Most profoundly, Greenbrier benefitted from Starling's decades of experience as a railroader. He joined Greenbrier's Board after serving on the Board of Kansas City Southern (KCS) for nearly seven years. From 2010-2016, Starling also served as President and CEO at KCS. In 2012, Starling received Railway Age's prestigious Railroader of the Year award.

"For more than forty years, Dave Starling was a railroader's railroader and a well-respected leader in the rail industry. Dave brought Greenbrier's Board deep industry experience from executive roles in the transportation business on multiple continents. He was a champion of railroading, particularly in Mexico and Latin America. Dave assisted Greenbrier as we engaged with U.S., Canadian and Mexican policymakers during the negotiations that led to the USMCA in 2020. We deeply appreciate Dave's numerous contributions to Greenbrier, especially his warm friendship, and offer our deepest condolences to Candace and his family," said Board Chair Admiral Thomas B. Fargo (USN Retired).

About Greenbrier

Greenbrier, headquartered in Lake Oswego, Oregon, is a leading international supplier of equipment and services to global freight transportation markets. Through its wholly-owned subsidiaries and joint ventures, Greenbrier designs, builds and markets freight railcars and marine barges in North America, Europe and Brazil. We are a leading provider of freight railcar wheel services, parts, maintenance and retrofitting services in North America through our maintenance services business unit. Greenbrier manages 408,000 railcars and offers railcar management, regulatory compliance services and leasing services to railroads and other railcars owners in North America. GBX Leasing (GBXL) is a special purpose subsidiary that owns and manages a portfolio of leased railcars that originate primarily from Greenbrier's manufacturing operations. GBXL and Greenbrier own a lease fleet of approximately 14,100 railcars. Learn more about Greenbrier at www.gbrx.com.

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SOURCE The Greenbrier Companies, Inc.

FAQ

What was the reason for David L. Starling's significance to Greenbrier?

David L. Starling brought decades of rail industry experience and strategic guidance to Greenbrier, especially during acquisitions and crisis management.

When did David L. Starling pass away?

David L. Starling passed away on February 27, 2023.

How long did David L. Starling serve on Greenbrier's Board?

David L. Starling served on Greenbrier's Board since 2017.

How did shareholders respond to Starling's reelection?

David L. Starling was reelected to a three-year term with more than 98% of shareholder support.

What impact might Starling's passing have on Greenbrier?

His passing could create a leadership gap and impact strategic decision-making within the company.