The Teamsters Union has asked Swift Transportation’s board of directors to split the duties of chairman and CEO between two individuals.
In a Wednesday press release the union said it had sent a letter to Swift board members calling for appointment of “an independent chairman who is not also the executive officer of the company.”
Swift CEO Jerry Moyes also serves as chairman. Moyes is currently under investigation by the Securities & Exchange Commission for possible violations involving stock trades. Swift acknowledged the investigation in a press release earlier this month.
“All of these transactions have received board approval. These transactions are fully disclosed by the company, and are very beneficial to Swift Transportation,” a Swift spokesman told Truckinginfo.com.
Teamster attempts to organize certain Swift business units have failed in the past and the union’s pension fund tried unsuccessfully last year to have the positions of Swift chairman and CEO split.
Teamsters Complain to Swift Board
The Teamsters Union has asked Swift Transportation’s board of directors to split the duties of chairman and CEO between two individuals
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