Wabtec Corporation (NYSE: WAB) today announced that Erwan Faiveley has informed the company’s Board of Directors he does not intend to seek re-election at the company’s Annual Meeting in May 2021. Faiveley has served on the Wabtec Board since 2016.

“On behalf of the Board, I want to thank Erwan for his service and leadership that helped shape Wabtec into the corporation it is today,” said Al Neupaver, Chairman of Wabtec. “He saw the company through incredible growth and played a significant role in successfully navigating the strategic combination of Faiveley Transport and Wabtec Corporation as one of the world’s leading rail equipment companies.”

“It has been an honor to serve on Wabtec’s Board of Directors,” said Erwan Faiveley. “While the decision not to seek re-election and relinquish our family’s seat on Wabtec’s Board was difficult, it was necessary given the time and investment required as we expand our family’s wine business and operations from France to California. The Faiveley family will remain significant Wabtec shareholders and believe the company is well-positioned to drive profitable growth.”

As a new Fortune 300 company and an industry leader in innovative technologies, Wabtec is committed to creating an inclusive culture that is reflective of the company’s forward progress and values. Wabtec has retained a Board search firm to help meet the needs of the evolving company and bring a diverse profile and experience to Wabtec’s leadership team.