On January 31, 2018, William A. McWhirter II, Senior Vice President and Group President of Trinity Industries, Inc., notified the company of his election to begin a transition toward retirement. The company anticipates entering into a transition agreement with Mr. McWhirter consistent with the terms of Trinity’s executive officers’ Transition Compensation Plan, which will specify the terms of his service before and after the effective date of his retirement. The company announced its intention to pursue a plan to spin-off the company’s infrastructure-related businesses to Trinity stockholders in the second half of 2018. The company announced that Antonio Carrillo, currently the Chief Executive Officer of Mexichem S.A.B. de C.V. and a current member of Trinity’s Board of Directors, has accepted a future role with the company as President and Chief Executive Officer of the new infrastructure company upon completion of the spin-off. Timothy R. Wallace, Trinity’s Chairman, Chief Executive Officer and President, will remain in his current role with Trinity following completion of the spin-off. Since 2012, Mr. Carrillo, 51, has served as Chief Executive Officer of Mexichem. Prior to joining Mexichem, Mr. Carrillo spent 16 years at Trinity where he most recently served as Senior Vice President and Group President of the company’s Energy Equipment Group and was responsible for Trinity’s Mexico operations. In 2014, he was elected to Trinity’s Board of Directors and has served as a member of the Finance Committee.