Rail

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

Sound Transit breaks ground on Capitol Hill Station TOD

Construction of affordable housing, mixed-used development near popular light rail station begins.

Beijing subway to use 'bio-recognition tech' to speed passenger flow

Facial recognition cameras would be able to detect people’s faces, potentially allowing them to bypass normal ticketing channels.

New intercity rail service launches in Connecticut

Connects to a number of other rail services, including Metro-North, Shoreline East, and Amtrak including Amtrak’s Acela

Alstom to supply 38 Citadis trams for German operator

Will also provide training, repair equipment and warranty services. The contract includes an option for 15 additional vehicles.

Bombardier JV wins Chinese airport automated peoplemover contract

Will deliver an Integrated System Package, including 18 cars, for an approximately 1.6-mile APM line

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

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

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