Michael Borrows, the former CFO at USA Truck Inc. of Van Buren, is the new chief financial officer at the privately held transportation and logistics company Dicom Transportation Group of Quebec.
Borrows said he started at Dicom on Aug. 14. He is working out of Kansas City for Dicom, which has approximately 100 offices throughout North America and does $400 million in revenue.
Borrows served as interim CFO and consultant for two companies: Trans Carrier for five months in 2016 and SolAero for seven months earlier this year. He resigned from USA Truck on May 19, 2016.
Borrows joined USA Truck on Sept. 23, 2014, as then-CEO John Simone’s pick to replace Cliff Beckham as CFO. Borrows held finance and accounting leadership positions for 14 years at Kansas City Southern and BNSF Railway and was senior vice president and managing director at Pollen Inc. before joining USA Truck.
When Borrows left USA Truck, the company agreed to pay him $450,000 over 18 months, an amount equal to what his salary would have been during the same time span. He also received a lump sum payment of $180,000.
Borrows forfeited 62,660 shares of stock. In 2015, his last full year with USA Truck, his total compensation was $608,000.
Beckham worked at USA Truck for 20 years, including a stint as CEO from 2007 to 2013, before resigning. He is now the COO and president at the Trekker Family of Cos. in Caseyville, Illinois.
Simone served as CEO from 2013 until he was diagnosed with lung cancer in April 2015. He died in March 2016.