The Greenbrier Companies, Inc. announced the election of retired four-star Admiral Thomas B. Fargo as Independent Chair of its Board of Directors, effective at Greenbrier's close of business on August 31. A board member since 2015, Fargo serves as Chair of Greenbrier's Compensation Committee and a member of the Nominating and Corporate Governance Committee. Fargo has served as the Company's Lead Director since January 2021, a position Greenbrier's Board will eliminate with the election of an independent Board Chair.

Effective with the appointment of Fargo, Greenbrier's Board policy is that members identified as Chair must meet the standards of the SEC and NYSE for an independent director. Fargo will succeed William A. Furman, Greenbrier Executive Chair since March 2022. Previously, Furman was Chairman and CEO since 2014.

Furman served Greenbrier and its predecessors as a co-founder, CEO, President and director beginning in 1974. Furman will continue to serve as a board member until January 2024, completing 50 years with Greenbrier and its affiliated businesses. Fargo joined Greenbrier's Board of Directors as a former military commander with subsequent private sector experience in defense, maritime and other transportation industries.

As Commander of the U.S. Pacific Command (2002-2005), he led the larger unified command while directing the joint operations of the Army, Navy, Marine Corps and Air Force in the Asia-Pacific Theater. Fargo also serves as Board Chair at Hawaiian Electric Industries and on the board of directors at shipping and logistics provider Matson, Inc. He was previously Board Chair at USAA, a $37 billion-dollar financial services company supporting the U.S. military and their families and Huntington Ingalls Industries, the nation's larger shipbuilder. He has also served on the boards of Northrop Grumman Corporation, Alexander & Baldwin, Inc. and Hawaiian Airlines.