New CEO John Simone Says He'll Evaluate USA Truck Over Next 100 Days

by Lance Turner and Chris Bahn  on Monday, Feb. 18, 2013 3:40 pm  

New USA Truck CEO John Simone says the foundation is in place for a strong company, and that the future of the firm doesn't have to be clouded by its recent struggles.

In November, the company announced changes to its board of directors to stem the company's financial bleeding and prevent a hostile takeover. In December, it announced an interim COO, and in January, it fired CFO Darron Ming, who had been with the company for 15 years. Later that month, the company said its annual loss deepened to $17.5 million.

On Monday, Peiser said Simone has "deep experience" in the industry and is a "proven leader of people."

"We are excited that he shares our belief in the future of the company and will be dedicated to building on our momentum," Peiser said.

Beckham told Arkansas Business he was "very excited" to return to his role as CFO and turn CEO duties over to Simone. Thanks to the changes, Beckham said USA Truck is poised for a turnaround.

"We had a number of criteria that were necessary and John has met those," Beckham said. "He has deep industry experience, including experience with leadership companies in our industry. He has experience with successful operational turnarounds. He has a track record of developing people. He has a track record of operational excellence. And we think he’s going to be a very good fit for our culture here at USA Truck."



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