USA Truck Inc. of Van Buren hired Martin Tewari to fill the new position of President of Trucking.
Tewari, who has more than 25 years of industry experience, will begin work Wednesday and will be responsible for operations, pricing and sales, the company said. Tewari will report directly to USA Truck CEO Tom Glaser.
The company announced that Russell Overla, the executive vice president of truckload operations, had resigned. Overla joined USA Truck in June 2013 as part of then-CEO John Simone’s executive team.
“[Tewari’s] appointment and the broad range of responsibilities with which he is charged illustrate the steps we have designed to accelerate the pace of improvement in our trucking operations,” Glaser said in a statement. “We believe Martin’s deep industry knowledge and unsurpassed operational expertise will help us build a best-in-class and consistently profitable trucking operation.”
USA Truck reported second-quarter income of $2.4 million in August but revenue had dropped from $153.2 million to $133.5 million from the same quarter of 2014. Trucking division revenue dropped from $106 million in the second quarter of 2014 to $93 million in the same quarter of 2015.
Glaser said the decrease in revenue was expected as USA Truck streamlined its operations and raised driver pay, something he believes with result in lower safety and retention costs in the future.
Overla earned $583,415 in total compensation in 2014, according to the proxy statement the company filed with the Securities & Exchange Commission. Tewari’s salary has not been released.
Overla is the fifth USA Truck executive to leave the company. Simone resigned in July 2015 to focus on his recovery from lung cancer and the man he had replaced, Cliff Beckham, resigned as CFO in September 2014.
Jeffery Lester resigned in August after Glaser said he needed him to spend more time at the USA Truck headquarters. Burton Weis, the vice president of human resources, also resigned in August.
“We would like to thank Russell for his contributions over the past two years,” Glaser said. “Russell built a foundation that will help us continue USA Truck’s forward momentum.”