The Andersons, Inc. (Nasdaq: ANDE) announced today that Rasesh (Rash) H. Shah, who currently serves as President of the Rail Group, will retire in July 2018. Joseph E. McNeely will join the company as the new President of the Rail Group on January 8, 2018. Shah will provide transition assistance until he retires.
McNeely has more than 30 years of experience in the financial, manufacturing and distribution industries, specializing in the railcar business. Most recently he served as President and CEO of FreightCar America, Inc. where he led the company's transformation from a coal railcar manufacturer to a manufacturer of a diverse portfolio of railcars. McNeely also held Vice President roles at Mitsui Rail Capital and GATX Corporation.
"We are very excited to welcome Joe to our leadership team," said Pat Bowe, CEO and President of The Andersons. "He brings with him a wealth of knowledge and experience managing through the highly cyclical rail market."
McNeely earned his bachelor's degree in accounting from Illinois State University, Normal, Ill. He received his Master of Business Administration from the University of Notre Dame.
He and his family will be relocating to the Northwest Ohio region in the near future.
Shah began his career at The Andersons in 1978. He was instrumental in creating the company's Rail Group in 1989, and developing it into one of the top 10 largest private rail fleets in the U.S. today.
"Rash has played a pivotal part in shaping The Andersons' vision and history," said Bowe. "We greatly appreciate his years of service and dedication which have helped shape us into the diversified company we are today. We wish him the best on this next phase of his life."
