Timothy R. Wallace has notified the Trinity Industries, Inc. Board of Directors that he will retire as the company’s chief executive officer and president. The Trinity Board is initiating a search for his successor, with Wallace continuing in his current roles to facilitate a smooth transition.
“It has been my honor and privilege to be a part of this great company for the past 44 years and lead it for the past 20,” remarked Wallace. “With a strong foundation and team in place, I believe this is an opportune time for me to step back and let a new leader guide Trinity into the future. I am proud of all we have accomplished together, and I am committed to continuing to work with the Board and management team to ensure a smooth transition.”
Wallace joined Trinity in 1975, serving as CEO and president since 1999 and as chairman of the Board from 1999 to March 2019. He played a key role in growing the company’s lease fleet into one of the largest in North America and establishing an integrated rail platform.
“On behalf of the Board, I want to thank Tim for his significant contributions and service to Trinity over more than four decades,” said Trinity’s Non-executive Chairman Leldon Echols. “Tim has made a difference in every facet of this company. He has been instrumental in building a strong corporate culture dedicated to premier performance – fostering collaboration throughout the business and a commitment to excellence and continuous improvement. Under Tim’s leadership, Trinity evolved from a manufacturer of railcar products to a premier integrated platform of railcar products and services with market-leading positions in North America. Tim has developed a deep bench of management talent to support the Company’s continued success, and we are excited about the future of the company going forward.”