INDIANAPOLIS, IN – Industry analyst Thom Albrecht has been named executive vice president – Chief Financial and Strategy Officer at Celadon Group.
It’s the latest of several changes at the company that continues to restructure assets, and also faces an investigation by the U.S. Securities and Exchange Commission. Celadon sold its flatbed division in September and announced plans to leave three other business segments including its Quality Companies lease servicing business.
Albrecht is currently president of Sword and Sea Transport, prior to which he was a managing director at BB&T Capital Markets. Other experience has included roles as a managing director at Stephens, ABN AMRO and AG Edwards.
He succeeds Bobby Peavler as Chief Financial Officer, who continues with Celadon in other roles.
“I am confident that Thom’s expertise will be invaluable as we seek to improve our results, refinance our capital structure, shed non-core assets, and more effectively deploy capital in our core business units,” said Paul Svindland, Chief Executive Officer.
“Having covered Celadon and its peers for nearly three decades, I feel uniquely positioned to impact key challenges facing the company,” Albrecht said. “My three main areas of focus will be business strategy, profitability, and timely and transparent financial reporting.”
The company is searching for a Chief Accounting Officer.
Albrecht has been involved in about 40 IPOs, and secondary public stock offerings, the company adds. He is also on the board of directors for Forward Air Corporation, a transportation and logistics company in the air freight and expedited Less Than Truckload industry.