USA Truck Names New CEO
by February 18, 2013 2:09 pm 105 views
John Simone has been appointed president and CEO of USA Truck Inc., the company said in a news release Monday.
Former CEO Cliff Beckham has returned to the role of executive vice president and chief financial officer, a position he held from 2002 to 2007. The moves are the latest in a string of leadership changes that began after the Van Buren-based carrier reported a record quarterly loss in October.
USA Truck fired former CFO Darron R. Ming on Dec. 26. The firing was revealed in U.S. Securities and Exchange Commission documents filed Dec. 28. No reason was given for Ming’s termination.
On Dec. 13, consultant Thomas Glaser was named interim chief operating officer effective Jan. 1, for an initial term of three months.
And in November, the company appointed Robert A. Peiser as chairman of the board. He replaced Terry A. Elliott, who remains on the board of directors.
Simone most recently was CEO of LinkAmerica, where he led a successful operational turnaround, according to Monday’s news release. LinkAmerica, based in the Dallas area, is a supply-chain management and professional services provider.
Peiser said in the release USA Truck has been working to improve its operating and financial performance.
“Hiring John Simone as our new CEO is an important next step that we expect to accelerate the process,” Peiser said. “He has deep experience in trucking operations and is a proven leader of people in all functional areas and at all levels.”
On Jan. 31, USA Truck posted a fourth-quarter net loss of $3.11 million, or 30 cents per share, compared to a net loss of $4.35 million, or 42 cents per share, in the same period a year earlier.
For the year, the company had a net loss of $17.54 million, or $1.70 per share, compared to a loss of $10.78 million, or $1.05 per share, in 2011.