Universal Logistics Holdings Names New CEO Amid "Soft" Environment
Universal Logistics Holdings (NASDAQ: ULH ) announced that the board has tapped Tim Phillips to be the company's new CEO and president. The press release stated that Phillips succeeded CEO Jeff Rogers, "who separated from service with the company as [CEO], president and a director" effective Friday. Matthew Moroun, Universal's chairman of the board, said, "I would like to express my gratitude to Jeff for his leadership and the contributions he has made to Universal's success." The announcement follows a tough quarter for the company. Universal reported a more than $8 million net loss for the third quarter of 2019, which included a $24.8 million legal settlement, recurring litigation expenses and lost operating income attributed to the United Auto Workers General Motors strike. The company also cited a "soft freight environment" as another reason for the financial underperformance. After the release of … Full story available on Benzinga.com
Universal Logistics Holdings Names New CEO Amid "Soft" Environment
Universal Logistics Holdings (NASDAQ: ULH ) announced that the board has tapped Tim Phillips to be the company's new CEO and president. The press release stated that Phillips succeeded CEO Jeff Rogers, "who separated from service with the company as [CEO], president and a director" effective Friday. Matthew Moroun, Universal's chairman of the board, said, "I would like to express my gratitude to Jeff for his leadership and the contributions he has made to Universal's success." The announcement follows a tough quarter for the company. Universal reported a more than $8 million net loss for the third quarter of 2019, which included a $24.8 million legal settlement, recurring litigation expenses and lost operating income attributed to the United Auto Workers General Motors strike. The company also cited a "soft freight environment" as another reason for the financial underperformance. After the release of … Full story available on Benzinga.com