Pacer International Announces Executive Appointments and Changes to Drive Profitability Across its Business Lines
"In an effort to continue to drive our corporate objective of maximizing profitability by cross-selling services through our various divisions, we have decided to rationalize pieces of Pacer's over-all structure. I feel confident that these improvements will continue to drive the company's performance to the next level," stated Don Orris, chairman and chief executive officer.
Under the new structure, the presidents within the company's retail division, Pacer Global Logistics (PGL), and the president of the wholesale division (Pacer Stacktrain), will report directly to Don Orris. Orris stated that he expects the company's organizational structure to remain dynamic, but believes the new alignment should best allow the company to take advantage of its unique integrated business model.
The following changes are effective immediately:
Carl Kooyoomjian, chief executive officer of PGL, will now become vice chairman of the parent company, Pacer International, responsible for corporate development and strategic planning.
Alex Munn, PGL's vice president of information systems, has been promoted to chief information officer for Pacer International.
Bill Smith, PGL's vice president and chief operating officer, has been promoted to executive vice president, Pacer International, with additional responsibility for the company's human resource management. He will continue as chief operating officer for PGL.
Mike Fielden, executive vice president for sales & administration at PGL, has been promoted to president of PGL's supply chain services (SCS) unit. Fielden will oversee the integration of individual Pacer services into customized, seamless packages for customers who require comprehensive supply-chain solutions.
Denis Bruncak, PGL's chief commercial officer, has been promoted to executive vice president, Pacer International, in charge of corporate accounts and relations.
Additionally, Peter Brown has joined PGL as president of its international unit. He brings more than 35 years of experience in the international transportation arena, having most recently worked for Yellow Corp. (Yellow Global), responsible for growing their international division. Orris noted that in addition to Brown, Pacer is in discussion with several other executives being recruited to support the strategic growth plan of the company.
ABOUT PACER INTERNATIONAL - Pacer International, a leading non-asset based North American third-party logistics provider, offers a broad array of logistics and other services to facilitate the movement of freight from origin to destination. Pacer International's services include wholesale stacktrain services (cost-efficient, two-tiered rail transportation for containerized shipments), and retail trucking, intermodal marketing, freight consolidation and handling, international freight forwarding, and supply-chain management services. Pacer International is headquartered in Concord, California. Its business units Pacer Stacktrain and Pacer Global Logistics are headquartered in Concord, California and in Dublin, Ohio, respectively. Web site: www.pacer-international.com
CERTAIN FORWARD-LOOKING STATEMENTS: This press release contains or may contain forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). These forward-looking statements are based on the company's current expectations and are subject to a number of risks, uncertainties and assumptions. Among the important factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements are the company's leverage; regulatory changes affecting the company's markets, operations, products and services; shifts in market demand and general economic conditions; as well as the other factors detailed from time to time in the Company's filings with the Securities and Exchange Commission, including those set forth under the caption Risks Related to Our Business in the company's Annual Report on Form 10-K for the year ended December 28, 2001. In addition, the company has acquired businesses in the past and may consider acquiring businesses in the future that provide complementary services. There can be no assurance that the businesses that the company has acquired or may acquire in the future can be successfully integrated. Should one or more of these risks or uncertainties materialize, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described herein as anticipated, believed, expected or intended.
NOTE: Issued by Potash & Company, at 510-865-0800, or steve@potashco.com
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