Triton International Announces Planned CFO Retirement and Transition Plan
22 June 2022 - 10:30PM
Business Wire
June 22, 2022 – Triton International Limited (NYSE: TRTN) today
announced that John Burns, Senior Vice President and Chief
Financial Officer, intends to retire at the end of 2022 after more
than 25 years with the Company. Mr. Burns will remain in his role
until a successor is in place and following his retirement will
serve in an advisory role to ensure a smooth transition. The
Company has initiated a search for a successor, which will include
both internal and external candidates. Triton has engaged Korn
Ferry to assist in its CFO search process.
“On behalf of Triton’s Board and the entire Triton team, I would
like to thank John for his leadership, dedication and significant
contributions over his career with the Company,” said Brian Sondey,
Chairman and CEO. “John has been an exceptional CFO for the past 13
years and has helped guide Triton through a period of strong growth
and superior shareholder returns while building a talented and
experienced finance team. We appreciate that John will remain in
his position as we transition to a new CFO and that he has offered
to continue as an advisor after our new CFO is in place.”
“It has been an honor and privilege to be a part of Triton’s
long history of success. This is a great company with a world-class
team and I am deeply grateful to the many colleagues who have
helped make my career so memorable and fulfilling," said John
Burns. “I’m very proud of what we have accomplished together and
I’m excited for the bright future that lies ahead for Triton.”
About Triton International Limited
Triton International Limited is the world’s largest lessor of
intermodal freight containers. With a container fleet of over 7
million twenty-foot equivalent units ("TEU"), Triton’s global
operations include acquisition, leasing, re-leasing and subsequent
sale of multiple types of intermodal containers and chassis.
Important Cautionary Information Regarding Forward-Looking
Statements
Certain statements in this release, other than purely historical
information, are "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995, Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements include, among others, statements relating to Triton’s
business, future performance and the management transition
discussed in this release. Statements that include the words
"expect," "intend," "plan," "seek," "believe," "project,"
"predict," "anticipate," "potential," "will," "may," "would" and
similar statements of a future or forward-looking nature may be
used to identify forward-looking statements. All forward-looking
statements address matters that involve risks and uncertainties,
many of which are beyond Triton's control. Accordingly, there are
or will be important factors that could cause actual results to
differ materially from those indicated in such statements and,
therefore, you should not place undue reliance on any such
statements.
These factors include, without limitation, economic, business,
competitive, market and regulatory conditions and the following:
the impact of COVID-19 on our business and financial results;
decreases in the demand for leased containers; decreases in market
leasing rates for containers; difficulties in re-leasing containers
after their initial fixed-term leases; our customers' decisions to
buy rather than lease containers; our dependence on a limited
number of customers and suppliers; customer defaults; decreases in
the selling prices of used containers; extensive competition in the
container leasing industry; risks stemming from the international
nature of our business, including global economic trends and
geopolitical risks, such as economic and trade disruptions
resulting from the ongoing war in Ukraine; decreases in demand for
international trade; risks resulting from the political and
economic policies of the United States and other countries,
particularly China, including but not limited to, the impact of
trade wars, duties and tariffs; disruption to our operations from
failures of, or attacks on, our information technology systems;
disruption to our operations as a result of natural disasters;
compliance with laws and regulations related to economic and trade
sanctions, security, anti-terrorism, environmental protection and
anti-corruption; the availability and cost of capital; restrictions
imposed by the terms of our debt agreements; changes in tax laws in
Bermuda, the United States and other countries; and other risks and
uncertainties, including those risk factors set forth in the
section entitled "Risk Factors" in our Form 10-K filed with the
Securities and Exchange Commission ("SEC"), on February 15, 2022,
in any subsequent Form 10-Q filed or to be filed by Triton, and in
other documents we file with the SEC from time to time.
The foregoing list of important factors should not be construed
as exhaustive and should be read in conjunction with the other
cautionary statements that are included herein and elsewhere. Any
forward-looking statements made herein are qualified in their
entirety by these cautionary statements. Except to the extent
required by applicable law, we undertake no obligation to update
publicly or revise any forward-looking statement, whether as a
result of new information, future developments or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220621006007/en/
Andrew Greenberg Senior Vice President Business Development
& Investor Relations 914-697-2900
Triton (NYSE:TRTN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Triton (NYSE:TRTN)
Historical Stock Chart
From Jul 2023 to Jul 2024