Celadon Group has announced the appointment of Paul C. Svindland as chief executive officer, effective on or about July 24. He will succeed Paul Will, who will retire as CEO and chairman of the board. Svindland will also serve as a member of the board.
Current lead independent director of the board and chairman of the compensation committee Michael Miller will replace Will as chairman.
Svindland currently serves as chairman and CEO of Farren International Holdings, a private equity-backed holding company for multiple trucking companies. Before it was merged with Farren International Holdings, Svindland served as CEO of EZE Trucking Holdings.
"I have spent most of my career helping transportation companies realize their true potential,” said Svindland. “With its large asset base, broad international network, niche businesses, and dedicated associates, I believe Celadon has tremendous untapped opportunity.”
Prior to joining EZE, he served in various executive positions at Pacer International, AlixPartners LLP, and ICG Commerce. Svindland's experience also includes several years in management roles with Maersk. He serves on the boards of Suntecktts, HwyTribe, and The Salzberg Program at The Whitman School of Management at Syracuse University.
Svindland holds a Bachelor of Science degree from the Syracuse University School of Management and an MBA from The Wharton School of Business at the University of Pennsylvania.
Celadon has had serious financial difficulties in the past year resulting in major management changes. The firm posted a $10 million operating loss in the first quarter of the year and was threatened with delisting its stock on the New York Stock Exchange.
“Given his background and the insight he has already offered, we fully expect Mr. Svindland to hit the ground running,” said Miller. “As the newly appointed independent chairman, I also look forward to working with Mr. Svindland and the rest of the Board in setting the forward agenda for the Company."