USA Truck CEO says he has lung cancer, no timetable for return

Strokes and lung cancer are what caused USA Truck CEO John Simone to in early April take an indefinite leave of absence, according to a statement issued Thursday (May 7) by the Van Buren-based trucking and logistics company.

When Simone’s leave was announced, the company cited a “serious medical condition” as the reason. Tom Glaser was appointed interim chief operations officer to lead the company. Glaser is a member of the USA Truck Board and served as the company’s COO from January 2013 to June 2013. He returned to the company as a Board member as part of an early 2014 agreement between USA Truck and investment firms Baker Street Capital and Stone House Capital Management.

Simone, 53, was hired by USA Truck Board Chairman Robert Peiser in early 2013, and was instrumental in returning the long-haul carrier and logistics company to profitability. The company reported Feb. 11 that 2014 net income was $6.033 million, a more than $15 million swing from the $9.11 million loss in 2014. The swing ended five consecutive years of losses.

The company is off to a good start in 2015. First quarter net income for Van Buren-based USA Truck was $1.116 million, a big improvement over the $1.589 million loss in the first quarter of 2014, and the 10th consecutive quarter in which the once-troubled trucking firm improved its financial performance.

In Thursday’s statement, Simone said the lung cancer was discovered while searching for the cause of strokes, or “cerebral vascular accidents.”

“While looking for the cause of the CVAs, they discovered lung cancer, which is very rare in non-smokers. I have been undergoing chemotherapy, and radiation treatments are planned in the future,” Simone said in his statement (See the full statement below.) “The treatments are expected to continue for several more weeks. It is too early to have complete visibility on timeframe for completing treatments or a definitive prognosis, but my doctors and I are optimistic.”

COMPLETE STATEMENT FROM USA TRUCK CEO JOHN SIMONE
Dear Colleagues and Fellow Stockholders:

I wanted to update you personally on the status of my medical leave and the timing of my expected return. Although my communication with you has been limited for several weeks, please know that USA Truck, and all of you, have been in my thoughts as I have concentrated on my treatments and recovery.

During March, I experienced cerebral vascular accidents (CVAs), or strokes, which primarily affected my speech (much improved since then). My doctors have not identified any other lasting effects, and they expect me to make a full recovery from the CVAs.

While looking for the cause of the CVAs, they discovered lung cancer, which is very rare in non-smokers. I have been undergoing chemotherapy, and radiation treatments are planned in the future. The treatments are expected to continue for several more weeks. It is too early to have complete visibility on timeframe for completing treatments or a definitive prognosis, but my doctors and I are optimistic.

Needless to say, this dual challenge multiplied the number of tests, appointments, and treatments to the point a medical leave became necessary. The warm wishes and messages from many of you were much appreciated and are helping keep up my spirits along the way.

Several weeks into the treatments, I am feeling much better. My strength is returning, my speech is improving, and I am looking forward to returning to active involvement in the business. My doctors have not finalized their recommendations on my ability to travel or return to USA Truck in a full time capacity. I intend to return as soon as medically advisable, and I am hoping that will be sometime this summer.

I would like to thank my colleagues at USA Truck for their support of me, but even more for their continued efforts on behalf of the company. The depth and breadth of our team has never been greater, and this has been clearly displayed over these past several weeks. I am grateful and humbled, but not surprised, by their dedication and performance.

Sincerely,

John M. Simone