Loram CEO Homan to retire; Willems named successor

Loram Maintenance of Way Inc. CEO Phil Homan has announced he will retire in May 2023.

On Jan. 1, 2023, Loram President and Chief Operations Officer Bradley Willems will succeed Homan as CEO. Willems’ new title will be president and CEO.

Homan joined Loram in 1993 as controller. Over the years, he was appointed to management positions including general manager of Europe, manager of business development, vice president of marketing, and executive VP. In 2008, he was named president and CEO and appointed to the board.

During his tenure, Homan led Loram through a period of growth, with the company now exceeding 1,800 employees in eight countries. He served on the Railway Engineering-Maintenance Suppliers Association’s board  for over a decade and served as its president in 2011 and 2012. He was instrumental in helping form the Railway Interchange trade show, Loram officials said in a press release.

"The relationships Phil has developed across the globe — with employees, industry leaders, government bodies and agencies, and the community — have been a significant part of Phil’s success, putting Loram on the global map," said Chairwoman Deanna Zumwalt.

To ensure a smooth leadership transition, Homan will assume a new role as executive director through May 2023, company officials said. He will continue as a board member beyond May as vice chair and director at Loram’s parent company, Coril Holdings Ltd.

Willems has been with Loram for the past 10 years — first as director of sales and marketing, then as chief financial officer and most recently as president and COO. Prior to joining Loram, Willems worked in public accounting at RSM McGladrey and served in finance, supply chain and business development roles at SuperValu.

"These roles and experiences have made [Willems] uniquely qualified to take on this challenge and chart the course for the future of Loram," said Homan. "From my perspective, the best days of Loram are in front of us, and I cannot wait to be a part of that success, albeit in a very different role."

Based in Hamel, Minnesota, Loram focuses on the design, build and operations for various maintenance of way equipment and activities including rail grinding, ballast cleaning, top of rail friction management, material handling, track inspection technologies and structural monitoring.