Executive Team Changes At Celadon Announced

by Jake Tully - Published: 7/14/2017

Indianapolis, Indiana-based transportation and logistics entity Celadon Group, Inc. announced earlier this week that Paul C. Svindland will be appointed as Chief Effective Officer of the company effective on or about July 24th.

Celadon reports that Svindland will succeed Paul Will’s position of CEO, who is planned to retire as both CEO and Chairman of the Board, while still serving as a consultant to the company throughout July of next year.

According to Celadon, Will’s position as Chairman will be filled by Michael Miller, Celadon Group’s current lead independent director of the board and Chairman of the Compensation Committee.

Celadon is reportedly enthusiastic about the changes in regards to Svindland taking the position of CEO, given his background in the trucking industry.

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"We believe Mr. 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,” said Miller. “We believe his experience, energy, and perspective will help guide Celadon toward achieving our strategic initiatives and enhancing stockholder value. Given his background and the insight he has already offered, we fully expect Mr. Svindland to hit the ground running.”

In regards to Svindland’s appointment, Celadon has also announced that they company will grant equity awards to Mr. Svindland, which will become effective upon his official employment. Celadon reports that the equity award were approved the Board’s Compensation Committee.

Celadon reports that Paul Will’s service at the company has been recognized by many and that he has helped make the transition of CEOs an expedient and smooth transition.

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