USA Truck Announces New CEO
VAN BUREN, Ark., Feb. 18, 2013
VAN BUREN, Ark., Feb. 18, 2013 /PRNewswire/ -- USA Truck, Inc. (NASDAQ: USAK)
announced today that John Simone has been appointed President and Chief
Executive Officer and has joined the Company's Board of Directors. Former CEO
Cliff Beckham has returned to his previous role as the Company's Executive
Vice President and Chief Financial Officer, which he previously held from 2002
to 2007. Both changes are effective immediately.
Mr. Simone has over 30 years of operational and management experience in the
transportation industry with leading companies that include UPS, Ryder, and
Greatwide Logistics. Most recently, he was the CEO of LinkAmerica where he
led a successful operational turnaround.
Mr. Simone commented: "USA Truck has a strong foundation to build upon,
including a relatively new fleet, dedicated employees, modern technology, and
significant balance sheet strength and liquidity. I was attracted to the
situation because of these resources and because of the strong commitment to
teamwork I sensed from the Board of Directors and the executive team. Our
team will be dedicated to achieving operational excellence in our execution
with the goals of superior customer service, efficiency in all functions, and
full support for our drivers. We expect improved operational execution and
enhanced financial management to generate value for stockholders, employees,
and other stakeholders."
Mr. Beckham commented: "I welcome John to the CEO role at USA Truck. We have
terrific people and a great opportunity in the truckload market. We have been
searching for someone with the right mix of operations, marketing, and
leadership skills to take the company to the next level of performance. I am
excited to return to my historical role as CFO and provide strong financial,
cost-control, and management support to John and the rest of the team. We are
unified in our commitment to restoring USA Truck to industry-leading
Commenting on the changes to the management team, Robert A. Peiser, Chairman
of the Board, stated: "We have been taking many steps toward improving USA
Truck's operating and financial performance. Hiring John Simone as our new
CEO is an important next step that we expect to accelerate the process. He
has deep experience in trucking operations and is a proven leader of people in
all functional areas and at all levels. We are excited that he shares our
belief in the future of the Company and will be dedicated to building on our
"We are also very excited that Cliff Beckham has agreed to return to the CFO
position. Cliff's deep-seated commitment to the Company and his proven
financial expertise in this position made this reorganization a natural
decision that we all believe is in the very best interests of the Company and
its stockholders. I look forward to working with John, Cliff, the rest of the
management team and our Board in restoring USA Truck to the levels of
profitability it has achieved in the past."
This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended and Section 21E of the
Securities Exchange Act of 1934, as amended. These statements generally may be
identified by their use of terms or phrases such as "expects," "estimates,"
"anticipates," "projects," "believes," "plans," "goals," "intends," "may,"
"will," "should," "could," "potential," "continue," "future" and terms or
phrases of similar substance.Forward-looking statements are based upon the
current beliefs and expectations of our management and are inherently subject
to risks and uncertainties, some of which cannot be predicted or quantified,
which could cause future events and actual results to differ materially from
those set forth in, contemplated by, or underlying the forward-looking
statements.Accordingly, actual results may differ from those set forth in
the forward-looking statements.Readers should review and consider the
factors that may affect future results and other disclosures by the Company in
its press releases, Annual Report on Form 10-K and other filings with the
Securities and Exchange Commission. We disclaim any obligation to update or
revise any forward-looking statements to reflect actual results or changes in
the factors affecting the forward-looking information. In light of these
risks and uncertainties, the forward-looking events and circumstances
discussed in this press release might not occur.
All forward-looking statements attributable to us, or persons acting on our
behalf, are expressly qualified in their entirety by this cautionary
References to the "Company," "we," "us," "our" and words of similar import
refer to USA Truck, Inc. and its subsidiary.
USA Truck is a dry van truckload carrier transporting general commodities via
our General Freight and Dedicated Freight service offerings. We transport
commodities throughout the continental United States and into and out of
portions of Canada. We also transport general commodities into and out of
Mexico by allowing through-trailer service from our terminal in Laredo,
Texas. Our Strategic Capacity Solutions and Intermodal operating segments
provide customized transportation solutions using our technology and multiple
modes of transportation including our assets and the assets of our partner
This press release and related information will be available to interested
parties at our web site, http://www.usa-truck.com under the "News Releases"
tab of the "Investors" menu.
SOURCE USA Truck, Inc.
Contact: Cliff Beckham, Chief Financial Officer, +1-479-471-2633,
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