FreightCar America Inc. has appointed Joseph E. McNeely as
chief executive officer. He is currently president and chief
McNeely succeeds Ed
Whalen, a 22-year veteran of the company, who is retiring as
chief executive officer and resigning from the Chicago-based
rail car builders board of directors.
FreightCar in 2010 as chief financial officer and was named
president and chief operating officer this past May. Prior to
FreightCar, McNeely was vice president of sales and marketing
for Chicago-based Mitsui Rail Capital LLC. He previously was
vice president of finance for Chicago-based GATX Corp.s
GATX Rail unit.
FreightCar posted a
$3.4-million net loss in the second quarter as coal car
deliveries fell 33.8 percent compared with the first quarter
and declined 74.5 percent year on year. However, the company
said it received unexpected orders for more than 5,500 cars
after the quarter ended, 4,000 of which were for rebuilt coal
amm.com, Aug. 5).
Earlier this year,
FreightCar opened a facility in Shoals, Ala., to produce
non-coal cars as part of the companys effort to diversity
away from its dependence on coal cars.
McNeely will continue
to pursue the companys "key initiatives," including
expanding its non-coal car products and growing its rail car
parts and services, he said in a statement.