Celadon announces executive changes

Indianapolis-based transport and logistics company, Celadon, has announced executive team changes to replace Chief Executive Officer and Board Chairman, Paul Will, who is retiring from the roles.

Paul Svindland will be taking the role as Chief Executive Officer effective July 24, while Michael Miller, the board’s lead independent director and chairman of its compensation committee, will take on the Chairman position.

Celadon expects Miller to serve as Chairman during a search process for additional independent directors, including a new Board Chair. The Board has reportedly already been working on a succession plan for more than a year.

“On behalf of the entire organisation, I would like to thank Paul Will for his service and dedication to Celadon over the past 24 years,” Miller said.

“Paul has been an invaluable team member at Celadon, and the Company has seen many significant achievements under his leadership during the past four and a half years. Paul and the rest of the Board have been working collaboratively on succession planning for more than a year, and this change reflects our mutual determination that we have found the right person to provide new leadership. We appreciate Paul's cooperation and enthusiasm throughout this process, and his steadfast resolve in helping to transition leadership during this critical time.”

Will stated, “I have thoroughly enjoyed my career at Celadon, and it has been an honor to work alongside and serve our employees, professional drivers, and stockholders. For this reason, I felt it was important for me to work with my fellow Board members to allow an effective transition of duties and the appointment of the right leader to take Celadon into its next chapter. I firmly believe that Svindland is the right person for this role.”

Svindland currently serves as Chairman and CEO of Farren International Holdings, taking over the role since its merger with EZE Trucking Holdings, where he served as Chief Executive Officer since April 2014.

“We believe Svindland is an excellent addition to our company – especially in light of his extensive experience in helping drive operational and financial improvements at transportation companies,” Miller said.

Svindland said, “I have spent most of my career helping transportation companies realise their true potential. With its large asset base, broad international network, niche businesses, and dedicated associates, I believe Celadon has tremendous untapped opportunity.

“I look forward to working closely with Jon Russell, Doug Schmidt, the rest of the management team, and our strong corps of employees and professional drivers to capitalise on this opportunity. I would not have accepted this position if I did not truly believe that I would have a meaningful impact on the Company's trajectory and help enhance value for all stakeholders.”

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