- Signs for push-out forces
- After about a year on the job
- Praise, thanks and good wishes for Rogers
- James Reed taking over
(management-change.com) — Van Buren, Arkansas, January 30, 2017 — Randy Rogers, chief executive of USA Truck, leaves. It is an abrupt change. As announced by USA Truck, Inc. in a news release on Monday, January 30, 2017, John R. (Randy) Rogers leaves the post as Chief Executive Officer at the truckload carrier in a surprising move after about a year on the job, effective immediately.
No company wants a CEO to flame out in the first year.
Rogers’ duties are taken over by James D. Reed, most recently Chief Financial Officer at USA Truck, Inc.
Reed will also assume Rogers’ position on the USA Truck Board of Directors.
The move is part of a management shake-up.
Also effective immediately, James (Jim) A. Craig has been appointed to the newly created position of Executive Vice President and Chief Commercial Officer.
“To pursue other opportunities”
The sudden management change is explained as follows. USA Truck said: Reed “succeeds Randy Rogers, who is leaving the Company to pursue other opportunities”.
Precise information about the future plans of Rogers was not immediately available.
Share price decline
The change follows a sharp decline in the share price of USA Truck, Inc. since February 2015.
Stone House holds 10.07 percent stake
Stone House Capital Management, LLC reported a 10.07 percent stake in USA Truck, Inc. as of September 30, 2016. Stone House is an investment management firm.
Chaired by Robert A. Peiser
USA Truck, Inc. is chaired by Robert A. Peiser.
Peiser was appointed to the Board in February 2012 and was named Chairman of the Board in November 2012.
On the job as CEO since 2016
Rogers served as the Chief Executive Officer and President of USA Truck Inc. since January 13, 2016.
Rogers joined USA Truck in January 2016 with more than two decades of experience in the logistics and transportation sectors.
He was most recently president of Energy and Chemicals Americas for DHL Supply Chain (formerly Exel Logistics) and, before that, held a number of regional leadership positions in operations, including vice president of South America, senior vice president of Greater China, and CEO of Southern Europe.
Before joining DHL Supply Chain, a wholly owned entity of Deutsche Post DHL Group, one of the world’s leading international logistics groups, Rogers held various positions with CSX Transportation, Inc. (a Class I railroad) and its subsidiaries.
At the time of Rogers’ appointment as Chief Executive Officer, USA Truck Chairman Robert A. Peiser had said: “Randy is a highly accomplished transportation and logistics executive with an impressive track record in one of the world’s top logistics companies. During his two decades in the industry, he has managed complex and integrated logistics businesses, key geographies and multiple industry sectors, successfully executing the strategic priorities for each of the businesses he has led and putting them on a sound growth track. With Randy’s extensive experience in logistics and Martin Tewari in place as President – Trucking, USA Truck is well positioned to move forward in executing its business strategy. Our goal will be to drive revenue and market share growth in SCS, the Company’s asset-light brokerage business, while continuing the many improvements we have made in our Trucking operations, with a sharp focus on optimizing return on invested capital in both businesses.”
Signs for push-out forces
It is not completely certain what forces eventually triggered Randy Rogers’ move.
The Push-out Score™ determined by management-change.com suggests that push-out forces may have contributed to the management change.
Read the full story in the management-change.com report 06.2017 ($).