Two new directors at Textainer
Bermudian-headquartered Textainer Group Holdings Ltd elected two directors to its board and bid farewell to one at the annual meeting of shareholders.
The company, one of the world’s largest lessors of intermodal freight containers, welcomed James Earl and Cynthia Hostetler as class two directors, while long-serving director Hennie Van der Merwe retired from the board.
In addition, Olivier Ghesquiere was re-elected as a class two director at the annual meeting.
Mr Earl was an executive with NYSE-listed GATX Corporation from 1988 to 2018, ultimately serving as executive vice-president, president of its Rail International division and CEO of GATX's American Steamship Company, the company said.
He also serves on the board of NYSE-listed Harsco Corporation.
Mr Earl has a bachelor of science degree from Washington University in St Louis and an MBA from the Wharton School at the University of Pennsylvania.
Textainer said Ms Hostetler serves as a trustee of Invesco Ltd and is a member of the boards of TriLinc Global Fund, an impact investment company, NYSE-listed Vulcan Materials Company and NYSE-listed Resideo Technologies, Inc.
She also has served on the board of the Investment Company Institute since 2018. From 2001 to 2009, Ms Hostetler served as head of investment funds and private equity at the Overseas Private Investment Corporation.
She has a JD from the University of Virginia and a BA from Southern Methodist University.
Mr Van der Merwe, the CEO of Trencor Limited, served on Textainer’s board between 2003 and 2011 and rejoined it in August 2017.
Hyman Shwiel, chairman of the board of Textainer, said: "We are very pleased to welcome Jim and Cynthia to the Textainer board.
"Their impressive careers and deep experience as board members of other prominent public companies will make them strong additions to Textainer as our company grows and we welcome their valuable insights and perspectives."
He added: "The board of directors is grateful for Hennie Van der Merwe's many years of dedicated service on the company's board and we wish him well in retirement."
Textainer, in operation since 1979, leases containers to approximately 250 customers, including all of the world's leading international shipping lines, and other lessees, it said.
The company also leases tank containers through its relationship with Trifleet Leasing and is a supplier of containers to the US military.
In addition to selling older containers from its fleet, the company buys older containers from its shipping line customers for trading and resale.
Textainer said it has sold an average of approximately 150,000 containers per year for the last five years to more than 1,500 customers.