FORT SMITH, Ark. — ArcBest’s board of directors is appointing Thom Albrecht as a new independent director, effective immediately.
“We are pleased to welcome Thom to our Board of Directors,” said Judy R. McReynolds, ArcBest chairman, CEO, who is retiring Dec. 31. “His extensive experience in finance, capital allocation, business strategy and insurance – viewed through the lens of our complex industry – adds meaningful perspective to our board as we continue to execute on our long-term strategy.”
Thom Albrecht
According to an ArcBest media release, Albrecht brings over 35 years of experience in transportation and logistics to the board and will serve on the Audit Committee.
He currently serves as chief revenue officer at Reliance Partners, a commercial insurance agency specializing in transportation and logistics, where he previously held the role of CFO.
Albrecht also held various executive positions at Celadon Group, an Indianapolis-based truckload company, including CFO and chief commercial officer. Albrecht spent 28 years on Wall Street specializing in the transportation sector and is a 7-time Wall Street Journal All Star.
“He was recognized multiple times as best analyst in his sector for regional/boutique firms by Institutional Investor magazine, and his extensive industry expertise and investor mindset are highly complementary and additive to the ArcBest Board,” ArcBest said. “His appointment aligns with ArcBest’s ongoing commitment to valuing diverse perspectives and our efforts to enhance long-term sustainable value for shareholders.”
Steven L. Spinner
Spinner joined the ArcBest Board of Directors in 2011 and served as lead independent director for nine years, as well as a member of the audit committee. During his tenure, Spinner helped guide ArcBest through many key milestones that contributed to its transformation from an LTL company into a leading integrated logistics company. He supported succession planning and oversaw multiple acquisitions as ArcBest expanded its comprehensive suite of logistics solutions, according to ArcBest.
Spinner will retire from the board on Oct. 31 after 14 years of leadership.
“I have enjoyed working closely with Steve over the last fourteen years,” McReynolds said. “His insight and experience in leading companies through transformational growth has been especially helpful. His engagement, dedication and drive have been valuable to me, to the ArcBest leadership team and to the ArcBest Board. The entire board and I wish him all the best.”
These changes are part of ArcBest’s regular assessment of board size, composition and current balance of skills and characteristics. Additional updates are expected in the coming months as the review process continues, according to the release.
Dana Guthrie is an award-winning journalist who has been featured in multiple newspapers, books and magazines across the globe. She is currently based in the Atlanta, Georgia, area.
