Wabtec (WAB) Picks John Olin to Succeed Pat Dugan as CFO

Westinghouse Air Brake Technologies Corporation, which operates as Wabtec Corporation WAB, has chosen John Olin as its executive vice president and chief financial officer, effective Oct 1, 2021.
 
Olin has served as the senior vice president and chief financial officer of Harley-Davidson, where he helped reshape the company. Previously, he worked as controller of Kraft Foods' Cheese Division. His work experience includes 12 years of financial leadership at Kraft, Oscar Mayer Foods, and Miller Brewing Company.

Wabtec’s president and CEO Rafael Santana, stated, "John is a seasoned finance leader who has built his career on delivering results through dynamic market cycles, and is committed to delivering long-term shareholder value.”

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Olin will succeed Pat Dugan, who will depart the company in the fourth quarter. Dugan served Wabtec for nearly 20 years. Ever since becoming the CFO in 2014, Dugan “has actively participated in growing the company from roughly $2.5 billion in revenues to nearly $8 billion”, Wabtec’s president and CEO Rafael Santana stated. Dugan also played a pivotal role in the company’s notable acquisitions of Faiveley Transport and GE Transportation.

Zacks Rank & Key Picks

Wabtec carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are Ryder System R, ArcBest Corporation ARCB and Matson MATX, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.

Shares of Ryder and ArcBest have rallied more than 100% each in a year’s time, while Matson shares have gained more than 85%.

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