Textainer Group Holdings President and CEO John A. Maccarone will step down at the end of this year and Executive Vice President Philip K. Brewer to replace him at the top of one of the world’s largest shipping container lessors.
Maccarone announced his retirement this week from the San Francisco-based company in the midst of a strong recovery at the business, with demand growing sharply to meet the rebound in global trade.
Along with Brewer’s promotion, Textainer said Robert D. Pedersen, now an executive vice president, will become president and CEO of Textainer Equipment Management, the main operating arm for Textainer’s intermodal box business.
Brewer and Pedersen, a former executive at Xtra and Maersk Line, are veterans of Textainer’s management team and group Chairman Neil Jowell called the moves “a natural transition” for the business.
The company has been riding high in the global trade rebound. Textainer announced this month its first quarter profit grew 39 percent to $45.5 million on a 31 percent gain in revenue to $91.2 million. Textainer said at the time it was buying more than $500 million of new containers, including 166,000 dry 20-foot boxes and 9,000 refrigerated containers.