- Push-out Score determined
- After around 16 years in the position
- Accolades, praise and thanks for Marten
- Tim Kohl taking over
- Marten will remain as Executive Chairman at Marten Transport
- Marten made a lengthy statement and said 221 words
(exechange) — Mondovi, Wisconsin, May 4, 2021 — Randy Marten, chief executive of Marten Transport, leaves his position. As announced by Marten Transport Ltd. in a news release on Tuesday, May 4, 2021, Randolph L. (Randy) Marten leaves his post as chief executive officer at the business offering a network of refrigerated and dry truck-based transportation capabilities after around 16 years in the role, effective immediately.
It is the end of an era.
Randy Marten’s duties as CEO will be taken over by Timothy M. (Tim) Kohl, most recently President at Marten Transport Ltd.
“Implementation of our succession plan”
Randy Marten’s departure from the CEO post is explained as follows. Randy Marten said: “It’s been a great honor and privilege to lead Marten Transport as its Chairman since 1993 and as its Chief Executive Officer since 2005, and to oversee the transition of the company that my father founded from a long-haul carrier to a multifaceted business offering a network of refrigerated and dry truck-based transportation capabilities. As we have successfully completed this transition, the Board of Directors and I concluded it was an appropriate time to adjust the management responsibilities of our management team and continue with the implementation of our succession plan.”
Marten will remain as Executive Chairman at Marten Transport
“Randy Marten will serve as Executive Chairman of the Board of Directors as part of this transition,” Marten Transport said.
Marten Transport said: “Tim Kohl will succeed Randy Marten, who has served as the Company’s Chief Executive Officer since 2005.”
Share price increase since May 2016
The announcement follows an increase in Marten Transport Ltd.’s share price of 127% since May 2016.
In the position of CEO since 2005
Randy Marten became CEO of the Company in 2005.
Randolph L. Marten has been a full-time employee of the Company since 1974.
Marten has been a Director since October 1980, the Company’s Chairman of the Board since August 1993 and the Company’s Chief Executive Officer since January 2005.
Marten also served as the Company’s President from June 1986 until June 2008, the Company’s Chief Operating Officer from June 1986 until August 1998 and as a Vice President from October 1980 to June 1986.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Randy Marten’s move on a scale of 0 to 10.
exechange reached out to Marten Transport and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 19.2021 ($).