| Mon 23 May 2011, 7:45 | | TRE - Trencor Limited - Textainer News Release |
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TRE
TRE
TRE - Trencor Limited - Textainer News Release
TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
("Trencor")
TEXTAINER NEWS RELEASE
We draw attention to the following news release issued by Textainer Group
Holdings Limited, in which Trencor has a 60,9% beneficiary interest:
"May 20, 2011
John Maccarone, President and CEO of Textainer Group Holdings (TGH) Limited
to Retire; Philip Brewer Appointed as President and CEO of TGH; Robert
Pedersen Appointed as President and CEO of Textainer Equipment Management
Limited Hamilton, Bermuda - (Business Wire) - Textainer Group Holdings Limited
("TGH", "Textainer" and the `Company`) announced at the Company`s annual general
meeting that after 24 years of dedicated service to Textainer, John. A.
Maccarone, the Company`s President and Chief Executive Officer, will retire
later this year. Mr. Maccarone will remain a significant shareholder and a
director of the Company.
As part of the succession planning process, the Board of Directors of TGH is
pleased to announce that it has appointed Philip K. Brewer, currently Executive
Vice President, to be the President and CEO of TGH and he will be nominated to
the Company`s Board of Directors, upon Mr. Maccarone`s retirement. The Board
of Directors has also appointed Robert D. Pedersen, currently Executive Vice
President, to be the President and CEO of Textainer Equipment Management
Limited, Textainer`s wholly owned subsidiary which provides container
management, acquisition and disposition services for TGH.
Mr. Brewer, 54, has served as Textainer`s executive vice president since
January 2006. He has been responsible for managing Textainer`s capital structure
and identifying new sources of finance for the Company, as well as overseeing
the management and coordinating the activities of the risk management and resale
divisions. Mr. Brewer was senior vice president of Textainer`s asset management
group from 1999 to 2005 and senior vice president of the capital markets group
from 1996 to 1998. Prior to joining Textainer in 1996, Mr. Brewer worked at
Bankers Trust as a managing director and Drexel Burnham Lambert, an investment
banking firm. Mr. Brewer holds a B.A. in Economics and Political Science from
Colgate University and a M.B.A. in Finance from Columbia University.
Mr. Pedersen, 52, has served as Textainer`s executive vice president responsible
for worldwide sales and marketing and operations since January 2006 in which
role he spearheaded Textainer`s major growth in the market. He was senior vice
president of the Company`s leasing group from 1999 to 2005. From 1991 to 1999,
Mr. Pedersen held several positions within Textainer, and from 1978 through
1991, he worked in various capacities for Klinge Cool, a manufacturer of
refrigerated container cooling units, XTRA, a container lessor, and Maersk
Line, a container shipping line. Mr. Pedersen is a graduate of the A.P.
Moller Shipping and Transportation Program and the Merkonom Business School
in Copenhagen, where he majored in Company Organization.
Neil I. Jowell, Chairman of TGH, on behalf of the Company`s Board of Directors,
commented "Mr. Maccarone has done a tremendous job in leading Textainer to
become the success it is today and the world`s largest lessor of intermodal
containers based on fleet size. We will continue to benefit from his experience
as a member of the Board and as an advisor to Mr. Brewer and the Company. Mr.
Brewer has been a part of the Textainer Executive Management Team for over 15
years and has proven to be a talented leader. It`s a natural transition for
him to step in to the position of President and CEO."
Mr. Jowell added, "Mr. Pedersen has been a part of the Executive Management
Team for 20 years and has played a key role in Textainer`s growth which has
resulted in a current fleet size of 2.4 million TEU, the largest in the
container leasing industry."
"I am delighted with the appointment of Mr. Brewer as President and CEO of
TGH and Mr. Pedersen as President and CEO of TEM. Mr. Brewer`s financing and
capital structure experience coupled with Mr. Pedersen`s extensive container
shipping and sales experience will allow Textainer to continue to build on
the firm foundations established thus far," commented Mr. Jowell.
Source: Textainer Group Holdings Limited
Mr. Tom Gallo
Investor Relations Director
Ph: 415-658-8227
ir@textainer.com"
Trencor Services (Pty) Ltd
Secretaries
23 May 2011
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
www.trencor.net
Date: 23/05/2011 07:45:01 Produced by the JSE SENS Department.
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