A former VP at Bombardier Transportation is replacing Jim Maier as president and CEO of Railpower Technologies Corp. as the company begins full-scale production of its hybrid yard and road switcher locomotives. Jose Mathieu has a mechanical engineering background and was a 23-year veteran of Bombardier Transportation. His experience at Bombardier and the network he brings to the table will serve Railpower well as it enters this full-scale production phase. I anticipate analysts will be happy with this appointment, which comes as no surprise. Railpower announced in October that Maier would be stepping down because of personal issues.
Maier, who served as CEO for three years, plans to stay on Railpower’s board of directors. Kudos to the man for building the company into a Canadian success story. In the past year alone Railpower has secured some major orders from some of the highest profile railway operators in North American, including Canadian Pacific Railway. The company is fortunate to have him stay on as a board member and advisor.