Donfris Named Greenbrier CFO
Written by Carolina Worrell, Senior Editor
Michael J. Donfris, The Greenbrier Companies, Inc. (Greenbrier)
The Greenbrier Companies, Inc. (Greenbrier) on May 21 announced that Michael J. Donfris has been named Chief Financial Officer (CFO) following a nationwide search.
Donfris joins Greenbrier from R.J. Corman Railroad Group where he has served as the short line operator’s CFO since 2020. He will initially take on the role of Senior Vice President, Finance at Greenbrier, becoming CFO and Principal Finance Officer in July after the supplier files its Form 10-Q for the fiscal quarter ending on May 31, 2024.
Donfris brings nearly 40 years of experience in corporate accounting and finance, including almost 30 years in positions of increasing responsibility at Kimberly-Clark, followed by approximately eight years in the rail and rail supply industry. At R.J. Corman, he participated in developing a multi-year strategic plan and completing a range of transactions, including railroad acquisitions, that led to substantial EBITDA (earnings before interest, taxes, depreciation and amortization) growth.
Prior to this, Donfris served in senior finance roles at TrinityRail, culminating in the position of Vice President of Finance and Chief Accounting Officer. At TrinityRail, Donfris led initiatives to increase cash flow and revenues as he helped the rail business develop its growth strategy and an improved capital structure. He also transformed his areas of responsibility by creating a Finance and Accounting Academy and Leadership Program to support and enable his teams.
“We are delighted to welcome Michael to Greenbrier’s executive team,” said Greenbrier President and CEO Lorie Tekorius. “Michael brings deep experience leading financial operations and implementing strategy at major industrial businesses, including those operating in rail freight and equipment markets. He has a strong record of driving financial performance, optimizing business processes and delivering results. Michael will enhance financial operations and partner on strategy development to accelerate Greenbrier’s progress and elevate its position as the global leader in freight rail supply. We are excited to have him as a colleague and look forward to his many positive contributions.”
“Greenbrier is well-positioned in the industry for continued growth and success,” said Donfris. “It is a privilege to join a company with Greenbrier’s history and potential, and I am pleased to join the team writing the next chapter of the enterprise. I believe Greenbrier’s best days lie ahead, and I value the opportunity to contribute to its growth and evolution.”
Meanwhile, R.J. Corman Railroad Group announced that it has initiated a nationwide search for a new CFO. “The company is committed to identifying a leader who will continue to drive financial performance and support the company’s long-term growth objectives,” the company stated in a release.
“We are grateful for Michael’s leadership and many accomplishments during his tenure at R. J. Corman,” said R.J. Corman Railroad Group President and CEO Ed Quinn. “He has been instrumental in our growth and success, and we wish him all the best in his future endeavors.”
