Q&A with Lorie Tekorius: New Greenbrier CEO shares vision, goals for the company
4/20/2022
In March, Lorie Tekorius became CEO of The Greenbrier Cos. She’s the company’s second-ever CEO and first female CEO. Former chairman and CEO William Furman, Greenbrier's co-founder, now serves as executive chair; he’ll retire Aug. 31.
Tekorius has worn many hats in her 28 years with Greenbrier, which specializes in transportation services, including freight-car manufacturing and refurbishment, and leasing and management services. She’s risen through Greenbrier’s ranks, serving as senior vice president and chief financial officer, and president and chief operating officer, before assuming her current role.
To learn more about Tekorius's vision for Greenbrier, the company’s role in the global supply chain and what she sees as the company's most pressing challenges, Associate Editor Grace Renderman recently submitted questions to Tekorius via email. Her responses follow.
RailPrime: In the Feb. 28 Greenbrier statement announcing your new role, Bill Furman said you have an "innovative and strategic" vision for Greenbrier. Can you expand on what your vision entails, particularly on the innovation front?
Tekorius: Innovative technologies are transforming the future of freight rail – improving reliability, sustainability and efficiency. An important part of my strategy is to work closely with our services and manufacturing teams to build on our foundation and enhance our customer offerings. We are working with U. S. Steel Corp. and Norfolk Southern Railway to produce a new, more sustainable high-strength steel gondola rail car that has the potential to reduce each rail car’s unloaded weight by up to 15,000 pounds. The reduction in rail car weight combined with stronger steel use will help rail cars reach their full lifecycle, lower their carbon footprint and improve freight capacity for shippers who transport goods by rail.
Additionally, our Multi-Max Plus innovations enable automakers to maximize the rail car’s space, reducing the number of rail cars needed and thereby lowering carbon emissions. Our rebody and sustainable conversion programs also provide cost-effective, efficient and environmentally sustainable options to diversify and optimize fleets. Through these initiatives, I want to continue supporting our customers, helping them achieve greater efficiency and sustainability in their work of transporting goods across North America, South America and Europe.
RailPrime: How would you characterize your leadership style? How does spending 20+ years at Greenbrier inform your approach?
Tekorius: I would characterize my leadership style as collaborative, perceptive and hands-on. I value open communication at all levels of the company and want to ensure each of my colleagues feels heard so that we can continue to learn from one another and grow together. It is also important to me to see firsthand what our teams are doing. I most recently visited our team in Mexico, and I was in awe of the facilities’ performance after two years of pandemic impacts.
Since joining the company in 1995, I have held many roles of increasing leadership and responsibility throughout the company. I know what it takes to lead the business and ensure we are positioned to succeed in the ever-changing industry. The ability to remain nimble in a cyclical business that can humble the most qualified businesspeople is a key learning developed over my years at Greenbrier. I’ll do my best to keep us focused on what’s ahead and ready to adapt as conditions dictate.
RailPrime: What does your promotion to the CEO position say about the role of women in the rail industry?
Tekorius: I’m honored to be Greenbrier’s second CEO ever and the first woman to hold the post. Bill has done an incredible job building a remarkable company from the ground up. I have seen the freight transportation and rail industry come a long way in my 27 years at Greenbrier, especially when it comes to women in leadership positions. While there’s still a lot of work to be done, it’s great to see women advancing and leading in these industries, and I have the utmost respect and admiration for my fellow female peers.
RailPrime: Greenbrier serves the global marketplace. How is the company attempting to confront current supply chain challenges, from the pandemic to Russia's invasion of Ukraine? How does Greenbrier prepare for change in a changing marketplace?
Tekorius: The supply chain has certainly been tested these past two years with the COVID-19 pandemic. As a key transportation supplier, we were designated as an essential business during the pandemic and, through strong health and safety protocols, have never shuttered a facility since COVID emerged. Through a resourceful global sourcing team with its vital network of suppliers, we have successfully navigated supply-chain issues with no line shutdowns to date.
We are closely monitoring the situation in Ukraine and working hard to make sure we have supply-chain resilience given the current circumstances. As a company, we are active in funding and offering in-kind support for crisis relief in Ukraine and in neighboring countries where refugees have fled, like Poland and Romania, where we have operations.
RailPrime: Why did Greenbrier join the RailPulse — the coalition seeking to facilitate and accelerate the adoption of telematics across the North American rail-car fleet — and what advantages does it offer for company stakeholders?
Tekorius: Joining the RailPulse coalition is one of the several ways Greenbrier is attempting to improve freight-rail service levels, visibility, sustainability and productivity. The data will help inform both us and our customers regarding how we can move products faster together and ensure that rail assets are the most efficient and environmentally friendly transportation options available. Ultimately, we are committed to making railways smarter, not only for the benefit of our customers, but for all parties in the rail ecosystem. RailPulse will enhance our customer service model, increase rail safety and reinforce our commitment to sustainability.
RailPrime: What do you see as the biggest near-term challenges for Greenbrier and the rest of the transportation equipment market? What about long-term challenges?
Tekorius: Maintaining a safe and thriving workplace for our employees is always at the top of our priority list. The conversation over the past two years of the pandemic has been heavily centered on hybrid or remote work. In the production and maintenance settings, the freight-rail industry cannot offer the same flexibility that many people are looking for these days. We are addressing the needs of our employees.
We are also keeping up with the increased demands of the ongoing supply-chain issues – a near- and long-term challenge for everyone. It is also an important initiative of mine to grow the existing talent we have through education and training, as well as add new talent, both maintaining the positive culture we have built at Greenbrier and finding ways to make it even stronger. In the fall, Greenbrier will be releasing its second environmental, social and governance (ESG) report where we will outline actions and goals we have put in place to address additional long-term focus areas such as climate change, waste management and employee health and safety.
RailPrime: You commented on a shift in demand for more intermodal services during the April 6 Greenbrier second-quarter earnings teleconference. What is Greenbrier doing to accommodate that rising demand and what lasting impact will that shift have on the rail industry?
Tekorius: Historically, Greenbrier has been a leader in the intermodal space, having pioneered the double-stack intermodal well in the 1980s. We have all seen and experienced an increase in ordering goods online, particularly as we navigated the depths of the pandemic. Intermodal transport is critical for these consumer patterns. We believe there are considerable opportunities to improve intermodal service and are working on these with our customers.
