- Push-out Score determined
- After 17 years in the position
- Praise and thanks for Kenney
- Bob Lyons taking over
- Kenney said 84 words
(exechange) — Chicago, Illinois, December 7, 2021 — Brian Kenney, chief executive of Gatx, leaves. As announced by Gatx Corp. in a news release and in a regulatory filing published on Tuesday, December 7, 2021, Brian A. Kenney leaves his post as chief executive officer at the railcar leasing company, after 17 years in the role, effective April 22, 2022.
It is the end of an era.
Brian Kenney’s duties as CEO will be taken over by Robert C. (Bob) Lyons, currently executive vice president and president, Rail North America at Gatx Corp.
“Long-term succession planning process”
Brian Kenney’s departure from the CEO post is explained as follows. Gatx said: “As part of a long-term succession planning process, the GATX board of directors has appointed Robert C. Lyons, GATX’s current executive vice president and president, Rail North America, as the Company’s next chief executive officer, effective April 22, 2022, and will nominate him for election to the board of directors at the 2022 Annual Meeting of Shareholders.”
Precise information regarding Brian Kenney’s future plans was not immediately available.
“Retire”
Gatx said: “Brian A. Kenney will retire as president and CEO, effective April 22, 2022.”
Gatx further said: “On December 3, 2021, Brian A. Kenney, President and Chief Executive Officer, notified the Board of Directors (the “Board”) of GATX Corporation (the “Company”) of his decision to retire as an officer of the Company effective April 22, 2022, following the Annual Meeting of Shareholders.”
Share price increase since December 2016
The announcement follows an increase in GATX Corp.’s share price of 87% since December 2016.
In the position of CEO since 2005
Brian Kenney became CEO of the Company in 2005.
Kenney will continue to serve on GATX’s board of directors as non-executive chairman until October 31, 2022 to ensure a seamless transition.
Kenney has served as the Company’s Chairman of the Board and Chief Executive Officer since 2005 and as President since 2004.
Previously, he held positions at GATX as Senior Vice President, Finance and Chief Financial Officer from 2002 to 2004, Vice President, Finance and Chief Financial Officer from 1999 to 2002, and Vice President – Finance from 1998 to 1999.
He first joined GATX in 1995 as Treasurer.
Before coming to GATX, Kenney served as Managing Director, Corporate Finance and Banking for AMR Corporation and in various financial positions with United Airlines and Morton International, Inc.
Kenney also served as a member of the board of directors of USG Corporation, a publicly held manufacturer and supplier of building supply products, from 2011 until its acquisition in April 2019.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Brian Kenney’s move on a scale of 0 to 10.
exechange reached out to Gatx and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 50.2021 ($).