Forward Air Corporation Announces Key Executive Promotions
Forward Air Corporation Announces Key Executive Promotions
GREENEVILLE, Tenn.--(BUSINESS WIRE)-- Today, Forward Air Corporation (NASDAQ:FWRD) announced the promotion of Matthew J. Jewell to the newly created position of Executive Vice President of Intermodal Services and Chief Strategy Officer. Jewell, who most recently served as Forward Air's Executive Vice President, Chief Legal Officer and Corporate Secretary, has been with the company for over eleven years. In his new role, Jewell will be responsible for leading Forward Air’s intermodal service offering, which was recently expanded significantly through the acquisition of Central States Trucking Co. and Central States Logistics, Inc. Additionally, he will assume a leadership role in the development of Forward Air’s overall corporate strategy.
"Matt is a talented leader who has the vision, the values and the passion to help lead our efforts to grow our intermodal service offering and positively shape and develop our overall company strategy," said Bruce A. Campbell, Chairman, President and Chief Executive Officer of Forward Air. "Matt has provided Forward Air with exceptional legal and business counsel as our Chief Legal Officer, and I look forward to working with him in his new role as we continue to drive superior results and long term value for our shareholders."
The role vacated by Jewell will be filled by Michael L. Hance, who has been promoted to the position of Senior Vice President, Chief Legal Officer and Corporate Secretary. Hance joined Forward Air in 2006 as vice president and staff counsel. He was promoted to senior vice president and general counsel in 2008, and in 2010 expanded his area of responsibility to include Forward Air’s human resources function. Hance earned his JD from Emory University School of Law.
“Michael has done a wonderful job for Forward Air in each role that he has held, most recently building the Company’s human resources infrastructure,” said Campbell. “Since joining Forward Air, Michael has become a trusted advisor on legal matters and is highly respected by the Company's senior management team and employees. We're very appreciative of the contributions he's made to Forward Air, and I am confident he will prove to be a strong successor to Matt.”
About Forward Air Corporation
Forward Air Corporation operates three business segments, Forward Air, Inc., Forward Air Solutions, Inc. and Total Quality, Inc.
Forward Air, Inc. is a leading provider of time-definite surface transportation and related logistics services to the North American expedited ground freight market. We offer our customers local pick-up and delivery (Forward Air Complete™) and scheduled surface transportation of cargo as a cost-effective, reliable alternative to air transportation. We transport cargo that must be delivered at a specific time but is relatively less time-sensitive than traditional air freight or when air transportation is not economical. We also offer our customers an array of logistics and other services including: expedited full truckload (“TLX”); intermodal/drayage (Central States Trucking, Inc.); dedicated fleets; warehousing; customs brokerage; and shipment consolidation, deconsolidation and handling.
Forward Air Solutions, Inc. is a provider of pool distribution services. Pool distribution involves the consolidation and shipment of several smaller less-than-truckload shipments to a common area or region. Once at the regional destination, the loads are deconsolidated, then grouped with other shipments with common delivery points, and delivered in a very precise, time-sensitive manner. Our pool distribution network consists of 24 terminals within the mid-Atlantic, Southeast, Midwest and Southwestern United States.
Total Quality, Inc. utilizes industry-leading temperature-controlled equipment, 24-hour monitoring and tracking technology and layered security features to provide our customers with the highest level of service. In addition to our core pharmaceutical services, we provide brokerage transportation services. Headquartered in central Michigan, we service the United States, Canada and Mexico.
Important Information
This press release contains “forward-looking statements,” as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are statements other than historical information or statements of current condition and relate to future events or our future financial performance. Some forward-looking statements may be identified by use of such terms as “believes,” “anticipates,” “intends,” “plans,” “estimates,” “projects” or “expects.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The following is a list of factors, among others, that could cause actual results to differ materially from those contemplated by the forward-looking statements: economic factors such as recessions, inflation, higher interest rates and downturns in customer business cycles, our inability to maintain our historical growth rate because of a decreased volume of freight moving through our network or decreased average revenue per pound of freight moving through our network, increasing competition and pricing pressure, surplus inventories, loss of a major customer, the creditworthiness of our customers and their ability to pay for services rendered, our ability to secure terminal facilities in desirable locations at reasonable rates, the inability of our information systems to handle an increased volume of freight moving through our network, changes in fuel prices, claims for property damage, personal injuries or workers’ compensation, employment matters including rising health care costs, enforcement of and changes in governmental regulations, environmental and tax matters, the handling of hazardous materials, the availability and compensation of qualified independent owner-operators and freight handlers needed to serve our transportation needs and our inability to successfully integrate acquisitions. As a result of the foregoing, no assurance can be given as to future financial condition, cash flows or results of operations. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Forward Air Corporation
Rodney L. Bell, 423-636-7000
rbell@forwardair.com
Source: Forward Air Corporation
Released May 12, 2014