STOCK TITAN

NFI Enhances Board to Accelerate Growth and Industry Leadership

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Positive)
Tags

NFI Group has announced strategic changes to its Board of Directors, appointing Chan Galbato as the new Board Chair, succeeding Wendy Kei. Additionally, Aziz Aghili and Maryse Saint-Laurent will join as directors, replacing Larry Edwards and Krystyna Hoeg who will retire at the next annual general meeting.

Galbato brings extensive operational leadership experience as former CEO of Cerberus Operations and Advisory Company, with expertise in manufacturing operations and supply chain optimization. His appointment comes at a important time as NFI aims to execute on its $12 billion backlog amid record demand for buses and coaches.

The new appointments strengthen the Board's expertise in manufacturing, supply chain management, human resources, and capital markets, positioning NFI to address industry-wide challenges while capitalizing on opportunities in zero-emission transportation.

NFI Group ha annunciato cambiamenti strategici nel suo Consiglio di Amministrazione, nominando Chan Galbato come nuovo Presidente del Consiglio, succedendo a Wendy Kei. Inoltre, Aziz Aghili e Maryse Saint-Laurent entreranno come direttori, sostituendo Larry Edwards e Krystyna Hoeg che si ritireranno alla prossima assemblea generale annuale.

Galbato porta con sé un'ampia esperienza nella leadership operativa come ex CEO di Cerberus Operations and Advisory Company, con competenze nelle operazioni di produzione e nell'ottimizzazione della catena di approvvigionamento. La sua nomina avviene in un momento importante, poiché NFI mira a gestire il proprio portafoglio di $12 miliardi in mezzo a una domanda record per autobus e pullman.

Le nuove nomine rafforzano l'expertise del Consiglio nella produzione, nella gestione della catena di approvvigionamento, nelle risorse umane e nei mercati dei capitali, posizionando NFI per affrontare le sfide del settore mentre sfrutta le opportunità nella trasportazione a zero emissioni.

NFI Group ha anunciado cambios estratégicos en su Junta Directiva, nombrando a Chan Galbato como el nuevo Presidente de la Junta, sucediendo a Wendy Kei. Además, Aziz Aghili y Maryse Saint-Laurent se unirán como directores, reemplazando a Larry Edwards y Krystyna Hoeg, quienes se retirarán en la próxima reunión general anual.

Galbato aporta una amplia experiencia en liderazgo operativo como ex CEO de Cerberus Operations and Advisory Company, con experiencia en operaciones de manufactura y optimización de la cadena de suministro. Su nombramiento llega en un momento crucial, ya que NFI busca ejecutar su cartera de $12 mil millones en medio de una demanda récord de autobuses y autocares.

Los nuevos nombramientos refuerzan la experiencia de la Junta en manufactura, gestión de la cadena de suministro, recursos humanos y mercados de capital, posicionando a NFI para abordar los desafíos de la industria mientras aprovecha las oportunidades en el transporte de cero emisiones.

NFI Group는 이사회에 대한 전략적 변화를 발표하며 Chan Galbato를 새로운 이사회 의장으로 임명하고, Wendy Kei를 후임시키기로 했다. 또한 Aziz AghiliMaryse Saint-Laurent가 이사로 합류하며, 그들은 다음 연례 총회에서 은퇴하는 Larry Edwards와 Krystyna Hoeg를 대체한다.

Galbato는 Cerberus Operations and Advisory Company의 전 CEO로서 운영 리더십 경험이 풍부하며, 제조 운영 및 공급망 최적화에 대한 전문성을 갖추고 있다. 그의 임명은 NFI가 버스 및 코치에 대한 역사적인 수요 속에서 120억 달러의 물량 대기목록을 관리하려고 할 때 중요한 시점에 이루어졌다.

새로운 임명은 제조, 공급망 관리, 인적 자원 및 자본 시장 분야의 이사회의 전문성을 강화하여 NFI가 산업 전반의 도전에 대응하면서 제로 배출 운송의 기회를 활용할 수 있는 위치를 잡고 있다.

NFI Group a annoncé des changements stratégiques au sein de son Conseil d'Administration, en nommant Chan Galbato comme nouveau Président du Conseil, succédant à Wendy Kei. De plus, Aziz Aghili et Maryse Saint-Laurent rejoindront le Conseil en tant que directeurs, remplaçant Larry Edwards et Krystyna Hoeg qui prendront leur retraite lors de la prochaine assemblée générale annuelle.

Galbato apporte une vaste expérience en leadership opérationnel en tant qu'ancien PDG de Cerberus Operations and Advisory Company, avec une expertise en opérations de fabrication et en optimisation de la chaîne d'approvisionnement. Sa nomination intervient à un moment crucial alors que NFI vise à gérer son carnet de commandes de 12 milliards de dollars face à une demande record pour les bus et autocars.

Ces nouvelles nominations renforcent l'expertise du Conseil en matière de fabrication, de gestion de la chaîne d'approvisionnement, de ressources humaines et de marchés financiers, positionnant NFI pour relever les défis de l'industrie tout en capitalisant sur les opportunités des transports à zéro émission.

NFI Group hat strategische Änderungen in seinem Vorstand angekündigt und Chan Galbato zum neuen Vorsitzenden des Vorstands ernannt, der Wendy Kei nachfolgt. Darüber hinaus werden Aziz Aghili und Maryse Saint-Laurent als Direktoren hinzukommen, die Larry Edwards und Krystyna Hoeg ersetzen, die bei der nächsten Hauptversammlung in den Ruhestand gehen werden.

Galbato bringt umfassende Erfahrungen in der operativen Leitung als ehemaliger CEO von Cerberus Operations and Advisory Company mit und verfügt über Fachkenntnisse in den Bereichen Fertigungsoperations und Optimierung der Lieferkette. Seine Ernennung erfolgt zu einem wichtigen Zeitpunkt, da NFI plant, sein Auftragsvolumen von 12 Milliarden Dollar angesichts einer Rekordnachfrage nach Bussen und Reisebussen abzuwickeln.

Die neuen Ernennungen stärken die Expertise des Vorstands in den Bereichen Fertigung, Lieferkettenmanagement, Personalwesen und Kapitalmärkte und positionieren NFI zur Bewältigung branchenweiter Herausforderungen, während gleichzeitig Chancen im Bereich emissionsfreier Verkehr genutzt werden.

Positive
  • $12 billion record backlog indicating strong future revenue potential
  • Strategic board enhancement with expertise in manufacturing and supply chain optimization
  • Strong market demand for buses and coaches
Negative
  • None.

Strategic Appointments Strengthen Operational Expertise, Positioning NFI to Capitalize on Record Backlog and Strong Market Fundamentals

WINNIPEG, Manitoba, Jan. 06, 2025 (GLOBE NEWSWIRE) --  (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. (NFI, or the Company) a leading independent bus and coach manufacturer and a leader in zero-emission electric mass mobility solutions, today announced strategic enhancements to its Board of Directors with the appointment of Chan Galbato to succeed Wendy Kei as Board Chair, as well as the appointments of Aziz Aghili and Maryse Saint-Laurent to succeed directors Larry Edwards and Krystyna Hoeg, who will retire from the Board at the next annual general meeting in accordance with the Company’s Board term and age limit policies.

“We are pleased to welcome Chan as our new Board Chair and Aziz and Maryse as directors,” said Paul Soubry, President and Chief Executive Officer, NFI. “Chan’s appointment brings valuable operational and supply chain expertise at a crucial time in our growth trajectory. His track record of driving operational excellence across global manufacturing organizations will be invaluable as we execute on our $12 billion backlog and capitalize on record demand for our buses and coaches.”

Mr. Galbato brings extensive operational leadership experience from his roles as CEO of Cerberus Operations and Advisory Company and through senior executive positions at major manufacturing and industrial companies. His track record includes successfully leading complex operational transformations and supply chain optimization initiatives at organizations including Invensys Controls Group, where he oversaw 30 global manufacturing facilities and led a comprehensive strategic restructuring that restored profitability, and GE Transportation Systems, where he gained valuable experience in transportation and technology across a wide range of segments (public transit, heavy-duty rail, specialty vehicles, and aerospace). At Cerberus, he served as Executive Chair of multiple portfolio companies including Blue Bird Corporation, demonstrating strong board leadership in transportation manufacturing. His deep expertise in manufacturing operations, global supply chains, and business optimization, combined with his proven board governance experience, aligns strongly with NFI Group’s commitment to operational excellence in its bus and coach manufacturing business.

“NFI is truly a global leader in sustainable transportation, and I am honored to take on the role of Chair. NFI’s unique market position, integrated solutions offering, and focus on technology leadership create compelling opportunities for value creation,” said Mr. Galbato. “I look forward to working with the Board and management team to enhance operational execution and accelerate the Company’s growth in 2025 and beyond.”

The appointments of independent directors, Mr. Galbato, Mr. Aghili, and Ms. Saint-Laurent further strengthens the Board’s expertise in manufacturing, supply chain management, human resources, and capital markets. These additions reflect NFI’s commitment to assembling a Board with the right mix of skills to address industry-wide supply chain challenges while capitalizing on unprecedented opportunities in zero-emission transportation and are the result of a rigorous selection process led by a leading executive search firm.

The Company also announced that Wendy Kei will be retiring from her role on the Company’s Board. During her tenure, Ms. Kei played a crucial role in helping the company navigate a challenging operating environment, the completion of a comprehensive refinancing plan, and the execution of a Board renewal strategy to meet the evolving needs of the Company, which resulted in half of the board changing over the last three years.

“On behalf of the Board, I want to express our deep appreciation to Wendy for her dedicated leadership and significant contributions to NFI’s governance and renewal process,” said Larry Edwards, Chair of the Human Resources, Compensation and Corporate Governance Committee. “Her efforts have positioned us well for the future and we wish her the best.”

Director Bios

Chan Galbato

Mr. Galbato was most recently the CEO of Cerberus Operations and Advisory Company where he oversaw the platform’s operating executives and functional experts focusing on the integration of operating expertise within Cerberus’ portfolio of companies and investment strategies. While at Cerberus, he served as Executive Chair of five different businesses, including Blue Bird and businesses in the auto sector. Prior to joining Cerberus in 2009, Mr. Galbato was president and CEO of the Controls Division of Invensys PLC and separately, was the president of services at The Home Depot. Mr. Galbato also held the position of president and CEO of Armstrong Floor Products and prior to that, was the CEO of Choice Parts.

He also spent 14 years with General Electric, holding several operating and GE Finance leadership positions as well as holding the role of president and CEO of Coregis, a GE Capital company. His board experience includes various Cerberus portfolio companies, including Chairman of Avon Products, Chairman of YP, Chairman of North American Bus Industries, Chairman of Guilford Mills, Director of New Avon, Director of Tower International, and Director of DynCorp International. He also served as Co-Chair of Albertsons and Lead Director for Brady, a publicly traded manufacturing company.

Aziz Aghili

With a distinguished 35-year career, Mr. Aghili brings significant expertise in manufacturing, technology, and global supply chain management to NFI. Mr. Aghili was most recently the Executive Vice President of Dana, a publicly traded, worldwide supplier of drivetrain, sealing and thermal-management technologies for vehicle manufacturers. Over his 15-year tenure at Dana he held numerous leadership positions, including President, Dana Europe and President, Dana Asia Pacific. He also spent 20 years at Meritor with leadership roles in manufacturing, procurement, business development and commercial marketing. Mr. Aghili currently serves on the board of Graphic Packaging Holding Company and Columbus McKinnon Corporation.

Maryse Saint-Laurent

With over 30 years of experience, Ms. Saint Laurent is an accomplished business leader and director with significant expertise in corporate governance and capital markets. Ms. Saint-Laurent currently serves on the boards of ATB Financial, BBA Consultants and North American Construction Group, where she Chairs the Governance and Sustainability Committee. She has previously served on the Boards of the Alberta Securities Commission, Turquoise Hill Resources, Pretium Resources, and Guyana Goldfields. During her career she also held senior leadership roles in the energy sector. Her extensive background in law, mergers and acquisitions, capital markets financing, and human resources will be invaluable to NFI.

About NFI

Leveraging 450 years of combined experience, NFI is leading the electrification of mass mobility around the world. With zero-emission buses and coaches, infrastructure, and technology, NFI meets today’s urban demands for scalable smart mobility solutions. Together, NFI is enabling more livable cities through connected, clean, and sustainable transportation.

With over 9,100 team members in ten countries, NFI is a leading global bus manufacturer of mass mobility solutions under the brands New Flyer® (heavy-duty transit buses), MCI® (motorcoaches), Alexander Dennis Limited (single- and double-deck buses), Plaxton (motorcoaches), ARBOC® (low-floor cutaway and medium-duty buses), and NFI Parts™. NFI currently offers the widest range of sustainable drive systems available, including zero-emission electric (trolley, battery, and fuel cell), natural gas, electric hybrid, and clean diesel. In total, NFI supports its installed base of over 100,000 buses and coaches around the world. NFI’s common shares trade on the Toronto Stock Exchange (“TSX”) under the symbol NFI and its convertible unsecured debentures trade on the TSX under the symbol NFI.DB. News and information is available at www.nfigroup.com, www.newflyer.com, www.mcicoach.com, nfi.parts, www.alexander-dennis.com, arbocsv.com, and carfaircomposites.com.

For investor and media inquiries, please contact: 
Stephen King 
P: 204.792.1300 
Stephen.King@nfigroup.com 


FAQ

What is the size of NFI Group's (NFYEF) current backlog in 2025?

NFI Group has a $12 billion backlog as of January 2025, indicating strong future revenue potential.

Who is the new Board Chair of NFI Group (NFYEF) in 2025?

Chan Galbato has been appointed as the new Board Chair of NFI Group, succeeding Wendy Kei.

What strategic changes did NFI Group (NFYEF) make to its Board in January 2025?

NFI appointed Chan Galbato as Board Chair, and added Aziz Aghili and Maryse Saint-Laurent as directors, replacing retiring board members Larry Edwards and Krystyna Hoeg.

How will the new Board appointments impact NFI Group's (NFYEF) operations?

The new appointments bring expertise in manufacturing, supply chain management, and operational excellence, positioning NFI to better execute its backlog and address industry-wide supply chain challenges.

NFI GROUP INC

OTC:NFYEF

NFYEF Rankings

NFYEF Latest News

NFYEF Stock Data

1.23B
118.14M
0.62%
43.1%
Auto Manufacturers
Consumer Cyclical
Link
United States of America
Winnipeg