Celadon Group Announces Executive Team Changes
*Paul Will appointed CEO and President
*Steve Russell remains Chairman
INDIANAPOLIS -- December 06, 2012
Celadon Group, Inc. (NYSE: CGI) today announced changes to the roles of
members of its executive team. The changes are effective immediately.
Paul Will has been appointed Chief Executive Officer and President and
continues to serve on the Board of Directors. Mr. Will previously served as
Vice Chairman, President, and Chief Operating Officer.
Steve Russell continues to serve as the Company's Chairman of the Board and
remains an executive officer.
Steve Russell, commented: "These actions mark the culmination of a successful
succession planning effort over the past several years. Paul Will has been
with Celadon for 19 years. In his most recent roles as President and Chief
Financial Officer, Paul consistently demonstrated the business acumen,
leadership skills, and commitment to Celadon's people that indicated his
readiness for the CEO position. His key roles in developing the leadership
team, integrating acquisitions, and driving efficiency throughout the
organization have contributed to record financial results and improved returns
on capital. Moreover, we expect his extensive background and expertise in
finance, information technology, and supply chain trends to provide critical
perspective in the dynamic and highly competitive market for transportation
services for many years to come. I am very comfortable in passing on to Paul
the role of Chief Executive Officer."
Michael Miller, the Company's lead independent director, commented: "The
Company retains Steve's historical industry perspective, emphasis on growth,
and cultural values of safety, security, and customer service. Steve is
expected to be actively involved in the management of the Company, including
in his long-time roles in corporate strategy and as a primary motivator of the
Company's award-winning drivers. The management changes mark the natural
evolution of Celadon and, we believe, position Celadon to build on its
successes over the past several years."
Celadon Group Inc. (www.celadongroup.com), through its subsidiaries, primarily
provides long-haul, full-truckload freight service across the United States,
Canada and Mexico. The company also owns Celadon Logistics Services, which
provides freight brokerage; Celadon Dedicated Services, which provides supply
chain management solutions, such as warehousing and dedicated fleet services;
and owns a minority interest in TruckersB2B (www.truckersb2b.com) which
provides cost savings to member fleets.
Celadon Group, Inc.
Jeryl Desjarlais, Communications Manager, 800-CELADON Ext. 7070
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