ST. CHARLES, Mo. (AP) — American Railcar Industries Inc. said Friday that President and CEO James Cowan has resigned to pursue other interests.
The company's board named Jeffrey Hollister as president and interim CEO. He most recently has overseen American Railcar Industries' railcar manufacturing group, which includes the Marmaduke and Paragould railcar assembly plants and component/sub-assembly plants.
Last month Icahn Enterprises LP, led by billionaire investor Carl Icahn, announced that it was forming a new railcar joint venture that would include American Railcar Industries. Icahn Enterprises LP bought a controlling stake of St. Charles, Mo.-based American Railcar Industries in 2010.
The joint venture, called American Railcar Leasing LLC, will be 75 percent owned by Icahn Enterprises.
American Railcar shares fell 11 cents to $41.50 in early trading Friday.
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