FreightCar America, Inc. (RAIL) said Wednesday that its Board of Directors has confirmed a leadership transition with the appointment of current Chief Financial Officer Joseph McNeely to the position of President and Chief Operating Officer, effective immediately.
In this new role, McNeely will assume responsibility for managing the day-to-day business operations and executing the company's strategic plan. The company's executive leadership team will report directly to Joe in this capacity.
McNeely has extensive railcar industry experience and has held the position of Vice President of Finance, Chief Financial Officer and Treasurer since 2010. Ed Whalen will continue in his role as Chief Executive Officer, overseeing the company's strategic initiatives and supporting McNeely's transition into his new role. Whalen will remain a member of the Board of Directors. The company said it has begun the search for a new CFO and expects to appoint a successor in the third quarter of 2013. Both external and internal candidates will be considered.
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