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Thursday, November 07, 2013
Amtrak appoints Sokol as CFO
Gerald Sokol Jr. has been named chief financial officer of Amtrak, effective Dec. 3. He will report directly to President and Chief Executive Officer Joe Boardman.
Sokol will oversee Amtrak's corporate finance, business forecasting and growth strategy development, Amtrak officials said in a press release.
"Jerry's talent and experiences are valuable assets that will further improve the Amtrak financial performance with the goal of strengthening our bottom line," said Boardman.
Since mid-2011, Sokol has served as president and CEO of Vertis Corp., a direct mail and newspaper insert printing company. He served as the company's CFO in 2010.
Sokol's prior work experience includes several leadership roles at AOL, NTN Communications and Tele-Communications Inc.
Amtrak has made "significant progress" in its financial performance in recent years with record ticket revenue, covering 88 percent of operating costs with ticket sales and other revenue, cutting debt by 60 percent and improving its credit ratings, Boardman said. Sokol is expected to reduce Amtrak's costs, increase revenue and efficiency, and improve the operating ratio.
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