DALLAS — Raymond B. Greer has resigned as CEO of Greatwide Logistics Services, the company said in a statement Tuesday. Leo Suggs, currently chairman of the board, was appointed to succeed him, effective immediately. John Simone will continue in his role as president and chief operating officer.
“Since taking the helm at Greatwide in 2005, Ray Greer has worked diligently to grow the company, build a strong management team and guide operations through an ownership change and challenging economy,” said Suggs. “We have enjoyed the benefits of his leadership and his loyalty to the company and thank him for his contributions. We wish him the greatest success in his future endeavors.”
Prior to joining Greatwide, Greer served as CEO of Newgistics Inc. Greer had previously served as president of i2 Technologies, as president, chief operating officer and chief information officer at Ryder Integrated Logistics, and had held numerous executive positions during 12 years with FedEx. Greer presently serves on the board of Road Link Inc. and Panther Expedited Services Inc.
Suggs joined Greatwide as chairman in 2009, bringing more than two decades of executive leadership experience with companies including Overnite Transportation, Preston Trucking, Yellow Freight and Ryder/PIE.
Suggs joined the company following its purchase by private investment firm Centerbridge Partners. Greatwide sought Chapter 11 protection in October 2008, and was sold in the reorganization.
More recently, Greatwide made the news with its $34 million purchase YRC Logistics’ dedicated contract business in December 2009.
“Greatwide will continue to focus on service, growth, yield, cost control and safety as it meets the needs of its customers,” added Suggs. “We are one of the best-capitalized companies in the industry and we are poised for long-term growth with a superior management team and competitive service offerings in place.”
Greatwide Logistics Services is one the country’s top dedicated contract carriers, specializing in refrigerated foods.
The company was formed in 2000 when private equity firm Fenway Partners acquired Transport Industries, a dedicated contract trucking carrier in Mesquite, Texas, and followed up with a series of additional carrier purchases leading to the rebranding as Greatwide in January 2006. Later that year, Fenway made a deal to sell a majority stake in Greatwide to Investcorps and Hicks Holdings LLC for $730 million.
Paying for that purchase during the subsequent economic downturn led to the 2008 restructuring, according to the company.
Kevin Jones of The Trucker staff can be reached for comment at firstname.lastname@example.org.
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