Cubic announces leadership transition for transportation business unit

Cubic Corporation of San Diego, CA announced on September 14 that Matthew Cole, executive vice president and deputy of Strategy and Business Development of Cubic Transportation Systems (CTS), has been appointed president of CTS and senior vice president of Cubic Corporation, effective October 1, 2015. Stephen Shewmaker, who plans to retire in 2016, has been appointed chairman of CTS. In this role, Shewmaker will continue to support Cubic’s key customers and help shape the strategic direction of the business. Both Shewmaker and Cole will report to Bradley Feldmann, president and chief executive officer of Cubic Corporation.

“It has been an honor to lead CTS, and I am proud of the significant milestones we have achieved as a team,” said Shewmaker. “I believe we have built a strong platform for long-term growth, and I am confident in the business’ future and its ability to add to Cubic’s bottom line. Matt is a highly qualified and proven leader, and I look forward to continuing to work with him as part of a smooth and orderly transition.”

Matt Cole said, “It has been a pleasure working closely with Steve over the past several years, and I am excited to build upon the successes we have accomplished together. I look forward to supporting our talented employees to further leverage CTS’ unique position as we approach a new era of growth as part of Cubic.”

“We are pleased to appoint Matt as president of CTS,” said Feldmann. “Matt is a thought leader in the transportation industry, and has been instrumental in growing CTS on three continents as well as entering into adjacent transportation markets. With his understanding of our customers’ needs and experience in global and executive operations at CTS, he has the deep knowledge and expertise to lead the transportation business into its next growth phase.”

“On behalf of Cubic, I would like to thank Steve for his many contributions over his 30-year career at CTS, including doubling the size of the business during his seven-year tenure as president,” continued Feldmann. “We are grateful for his stewardship of CTS and appreciate his guidance and leadership during this transition, which will ensure continuity with ongoing projects.”

About Matt Cole

Matt Cole joined CTS in 2003, and has held various positions of increasing responsibility, most recently as deputy and executive vice president of Strategy and Business Development. Prior to that, he served as managing director of CTS-Australasia and vice president of Finance for CTS. Cole was instrumental in the negotiation of the Future Ticketing Agreement with Transport for London and the award and mobilization of the Opal Card contract in Sydney. He also spearheaded the acquisitions of NextBus and Serco’s Transport Solutions business (Cubic ITMS), as well as the launch of Urban Insights, a data analytics consultancy company. In addition, he was a primary architect of the NextCity vision, the company’s strategy focused on the delivery of an integrated customer experience, one account and integrated operations and analytics. Cole is a Fellow of the Association of Chartered Certified Accountants and has an MBA from the Oxford Brookes University.

Source: Cubic Corporation