Celadon Trucking Announces New Executive Appointment

by Jake Tully - Published: 10/16/2017

Earlier today, Celadon Group announced the appointment of Thom Albrecht as Executive Vice President – Chief Financial and Strategy Officer at the company, succeeding Bobby Peavler as Chief Financial Officer.

Celadon Group reports that Albrecht has been involved in the financial sector of the transportation industry since the 1988, and that Albrecht is currently serving as the President of Sword & Sea Transport.

Albrecht reports that his appointment to this position aligns with his history in serving Celadon Group over the years, and that such a position will allow him to help to grow the company.

"Having covered Celadon and its peers for nearly three decades, I feel uniquely positioned to impact key challenges facing the Company,” said Albrecht. “My three main areas of focus will be business strategy, profitability, and timely and transparent financial reporting. In relation to the latter, Celadon is conducting a search for an experienced chief accounting officer to supplement our team. As I have become acquainted with the Board, Paul, and the rest of the management team, I am confident that we have the focus on the future and the necessary tools to reclaim Celadon's status as a leader in the truckload and logistics business."

Chief Executive Officer at Celadon, Paul Svindland expressed acknowledgement of Albrecht’s capability for the new appointment and the potential growth that may be achieved at Celadon.

"We are pleased and excited to have Thom join our team,” said Svindland. “Thom's knowledge of our industry and the challenges and opportunities we face is extensive. In addition, he brings deep understanding of the operating performance that drives financial results. I am confident that Thom's expertise will be invaluable as we seek to improve our results, refinance our capital structure, shed non-core assets, and more effectively deploy capital in our core business units. I look forward to working with him and the rest of the management team as we seek to continue to execute our strategic initiatives and begin a new chapter for Celadon."

Svindland also reported acknowledgement and thanks to Peavler in the process of transition.

According to Celadon Group, Peavler will continue to serve as a resource for the company in some capacity.