Amtrak taps new chief financial officer

Posted on November 13, 2013

Amtrak named Gerald Sokol Jr. as its new chief financial officer (CFO). He will report directly to Amtrak President/CEO Joe Boardman effective December 3.

As CFO, Sokol will be responsible for corporate finance, business forecasting and development of growth strategies to help secure Amtrak’s long-term viability.

“Jerry’s talent and experiences are valuable assets that will further improve the Amtrak financial performance with the goal of strengthening our bottom line,” said Boardman.

Since mid-2011, Sokol served as president/CEO of Vertis Corp., a $1.2 billion revenue direct mail and newspaper insert printing company, and was Vertis’ CFO during 2010.

Boardman emphasized that Amtrak has made significant progress in its financial performance in recent years with record ticket revenues, covering 88% of its operating costs with ticket sales and other revenues, cutting its debt by 60% and improving its credit ratings.

Sokol is expected to assist in further advancing these and other financial metrics such as reducing costs, increasing revenues and efficiency, and improving the railroad’s operating ratio.

View comments or post a comment on this story. (0 Comments)

More News

Bombardier contracted to extend Phoenix airport people mover

The contract is valued at approximately $305 million and includes options for three additional vehicles as well as for various vehicle retrofits and upgrades.  

Siemens, partners deliver automated peoplemover for Frankfurt Airport

The company will deliver 12 fully automated two-car trains equipped with GoA4 Communication Based Train Control Trainguard MT CBTC, the track work equipment, the station platform doors, communication system, depot equipment, and the power supply system.

FRA taking proactive approach to help railroads meet PTC requirement

At the direction of Secretary Elaine L. Chao, the FRA is taking a proactive approach to ensure railroads acquire, install, test, and fully implement certified PTC systems in time to meet the congressional interim deadline of Dec. 31, 2018.

Despite federal uncertainty, N.C. light rail project optimistic about funding

Half of the Durham-Orange light rail’s cost — totaling over a billion dollars — is expected to come from the federal government.

Las Vegas Monorail unveils Google Pay mobile ticketing

The Monorail now offers riders the ability to quickly and easily purchase fares online and use their phone at the fare gates for immediate transit access to everything along the Las Vegas Strip.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment



Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close