Focus of ArcBest officer changes includes goal of ‘right solutions and capacity’
ArcBest on Thursday (Jan. 16) announced top management changes the company says will push strategic priorities and long-term growth. The changes include aligning “revenue-generating functions” under a chief commercial officer position.
The changes are effective Feb. 1, according to the Fort Smith-based shipping and logistics company.
Eddie Sorg, previously chief operating officer of asset-light logistics, will be the chief commercial officer and will oversee marketing, sales, customer support, customer experience and yield.
“Sorg will be focused on optimizing workflows across teams to maximize revenue velocity. Aligning revenue-generating functions under one leader will provide a more unified approach to securing and seamlessly serving customers,” the company noted.
Sorg joined ArcBest in 1995 as a pricing analyst. His promotions included ABF director of revenue accounting, ABF director of pricing, vice president of yield management. He holds a bachelor’s degree in industrial engineering from the University of Arkansas.
Christopher Adkins, who was vice president of yield strategy and management, will be the chief strategy officer. The company said he will be responsible for strategy management, data science and process improvement teams. He joined the company in 2012 as a pricing analyst and his promotions included manager of engineering and technology, director of yield strategy, and vice president of yield strategy and analytics. Adkins holds a bachelor’s degree in industrial engineering from the University of Arkansas.
“As customer supply chains continue to evolve and become increasingly complex, ArcBest keeps taking steps that ensure our customers have the right solutions and capacity to meet their needs,” Judy McReynolds, ArcBest chairman and CEO, said in a statement. “The leadership and organizational updates announced today reflect our commitment to continuous improvement and innovation. One of the top priorities of our executive team is to remain flexible and responsive to customer needs and market changes while ensuring alignment between our strategy and organizational structure.”
The company also said Steven Leonard plans to retire in June 2025 after 24 years with ArcBest. He will manage the company’s asset-light logistics operations during a transition period to retirement.
Founded in 1923, ArcBest has around 15,000 employees at 250 locations. ABF Freight is the largest subsidiary and is a less-than-truckload carrier.
The company announced the key management changes just a few weeks before pushing out annual and fourth quarter financials on Jan. 31. The consensus estimate for full-year per share earnings is $6.09, which would be above the $5.77 in 2023. The consensus 2024 revenue estimate is $4.18 billion, which would be below the $4.427 billion in 2023.
ArcBest shares (NASDAQ: ARCB) opened Thursday at $101.33. During the past 52 weeks the share price has ranged between $153.60 and $91.01.