Boston, MA 09/25/2014 (wallstreetpr) – American Railcar Industries, Inc. (NASDAQ:ARII) Board of Directors announced two major changes in the company’s top management.
ARI Board has hired Jeffrey S. Hollister as the company’s permanent new President and Chief Executive Officer, according to news published by the Globe Newswire. The Board also announced the appointment of Umesh Choksi as its new Senior Vice President, Treasurer and Chief Financial Officer.
New President And CEO
Yesterday, American Railcar Industries, Inc. (NASDAQ:ARII) announced the appointment of the now Interim CEO as its permanent CEO. Hollister was appointed to serve the company as interim Executive on Oct 9, 2013. He will now enjoy additional powers and duties in the role of the company’s new President. In this context, the company’s Chairman, SungHwan Cho said that Hollister has shown a great amount of commitment during his tenure as interim CEO and President. He has been managing the company in those roles for almost a year, and the Board has decided to let him continue in these roles, he mentioned. He also added that he has led the company to grow in the one-year period and the Board expects he will continue o do the same in the future.
New CFO and Senior VP
With the appointment of Hollister, another announcement was made. American Railcar Industries, Inc. (NASDAQ:ARII)’s Senior VP, CFO and Treasurer, Dale C. Davies also announced his retirement. Hence, the Board decided to fill his place with the appointment of Choski. As Cho bid farewell to Davies, he welcomed Choksi to the company.
Choski brings with himself 30 years of experience to ARI. He has been engaged with the railcar industry for almost three decades, and most of his previous experience was in the leasing market of the industry. He has also worked with ACF Industries, LLC and American Railcar Leasing LLC. His roles have been varied and in different capacities since as early as 1977. At ARL, he has acted as both CEO, as well as CFO.
