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NFI Group Inc.

TSX Exchange | Jan 28, 2020, 5:57 AM EST | Real-time price

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NFI Group announces selection of Pipasu H. Soni as next Chief Financial Officer

WINNIPEG, Dec. 2, 2019 /PRNewswire/ - (TSX:NFI) NFI Group Inc., ("NFI" or the "Company"), one of the world's leading independent bus and coach manufacturers, announced today the selection of Pipasu H. Soni as NFI's next Chief Financial Officer ("CFO").  Mr. Soni joins NFI as Executive Vice President, Finance, effective immediately, reporting to NFI Chief Executive Officer Paul Soubry in a transition role that will lead to him becoming Executive Vice President and CFO on or prior to March 30, 2020.  Mr. Soni will succeed Glenn Asham who is retiring after 28 years of service with the Company, fifteen of which were as CFO.

NFI Group Inc. (CNW Group/NFI Group Inc.)

Pipasu brings to NFI nearly 20 years of business and financial management experience in manufacturing companies and has lived and worked in the United States and the UK and worked in Mexico.  Most recently, Pipasu served as an Officer of United States Steel Corporation in a variety of financial leadership roles including Vice President, Performance Management & Analytics, Vice President, Finance, and Interim CFO.  Prior to that, Pipasu held wide-ranging financial and strategy leadership roles in financial planning and analysis, global and divisional finance, business transformation, plant controllership, strategic planning, and corporate development at Pentair and Honeywell International. He began his career at Ingersoll-Rand in manufacturing and design engineering roles.

Pipasu holds a Bachelor of Science degree in Mechanical Engineering from Tennessee Technological University, a Master of Science degree in Mechanical Engineering from Clemson University and a Master of Business Administration, finance concentration, from Cornell University.  He is also a Certified Management Accountant with the Institute of Management Accountants.

"I am proud and very pleased to welcome Pipasu to the NFI executive team as we continue executing on our strategy to diversify and grow by enabling the future of mobility with innovative and sustainable transportation solutions" said Paul Soubry, NFI Chief Executive Officer. "Pipasu's breadth of experience in finance and business transformation, his strong understanding of engineering and operations, and his successful leadership in complex global business environments will serve as powerful assets for NFI as we transform into a more diversified global company," Soubry added.

"I would like to thank Glenn Asham for his many valuable years and significant contributions to our company," Mr. Soubry said. "We are grateful to Glenn for allowing us sufficient time to search for the right person to succeed him and to remain with us through March 2020 to ensure a comprehensive and smooth transition. On behalf of our Board of Directors, our leadership team and thousands of NFI team members, it's my honour to thank Glenn and to extend best wishes to him and his family as he enters his much-deserved retirement years."

About NFI Group

With revenues in excess of US $3B and operating from more than 50 facilities across ten countries, NFI is a leading independent global bus and coach manufacturer providing a comprehensive suite of mass transportation solutions under the brands of: New Flyer® (heavy-duty transit buses), Alexander Dennis Limited (single and double-deck buses), Plaxton (motor coaches), MCI® (motor coaches), ARBOC® (low-floor cutaway and medium-duty buses), and NFI Parts™. 

In total, NFI now supports over 105,000 buses and coaches in service around the world. NFI vehicles incorporate the widest range of drive systems available including: clean diesel, natural gas, diesel-electric hybrid, and zero-emission electric (trolley, battery, and fuel cell). 

NFI common shares are traded on the Toronto Stock Exchange under the symbol NFI. Further information is available at www.nfigroup.com, www.newflyer.com, www.mcicoach.com, www.arbocsv.com, www.alexander-dennis.com, www.nfi.parts, and www.carfair.com

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SOURCE NFI Group Inc.

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