- Push-out Score determined
- After about five years in the position
- Praise and thanks for Rogers
- Tim Phillips taking over
(exechange) — Warren, Michigan, January 14, 2020 — Jeff Rogers, chief executive of Universal Logistics, leaves. As announced by Universal Logistics Holdings Inc. in a news release published on Monday, January 13, 2020 and in a regulatory filing published on Tuesday, January 14, 2020, Jeff Rogers has left his post as chief executive officer at the provider of customized transportation and logistics solutions after about five years in the role, effective January 10, 2020.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who announced their departure over the past 12 months was 7.5 years, according to data compiled by exechange.
Jeff Rogers’s duties as CEO will be taken over by Tim Phillips, most recently Executive Vice President of Transportation of Universal Logistics Holdings Inc.
No reason given
In the announcement, Universal Logistics did not explicitly explain the reason for Jeff Rogers’s move.
Precise information regarding Jeff Rogers’s future plans was not immediately available.
“Separated from service”
Universal Logistics said: “Mr. Phillips succeeds Jeff Rogers, who separated from service with the Company as Chief Executive Officer, President and a director effective January 10, 2020.”
Share price decline
The announcement follows a decline in Universal Logistics Holdings Inc.’s share price of 48% since October 2018.
Chaired by Matthew Moroun
Universal Logistics Holdings Inc. is chaired by Matthew Moroun.
Matthew T. Moroun has served as a director and as the Chairman of the Company’s Board of Directors since 2004 and is a member of the Company’s Executive Committee and Compensation and Stock Option Committee.
In the position of CEO since 2014
Jeff Rogers became CEO of the Company in 2014.
Rogers has served as the Company’s Chief Executive Officer since December 2014.
Previously, Rogers served as the Company’s Executive Vice President from June 2014 to December 2014.
Prior to joining Universal, Rogers served as President of YRC Freight from September 2011 to October 2013, and as President of the regional LTL carrier USF Holland from September 2008 to September 2011.
He spent 15 years in various operating and finance roles within YRC Worldwide, including the role of Chief Financial Officer of YRC Regional Transportation.
In addition he served for 14 years with United Parcel Service in various finance and operational roles. Rogers is a military veteran who served in the U.S. Army Rangers.
He holds a Bachelor of Science degree in Accounting from Kansas Newman University and an M.B.A. from Baker University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Universal Logistics and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 3.2020 ($).