Celadon Group, Inc. (NYSE:CGI) today announced changes to the roles of members of its executive team. The changes are effective immediately.
Paul Will has been appointed Chairman of the Board and Chief Executive Officer. Mr. Will previously served as Chief Executive Officer, President, and Vice Chairman of the Board of Directors.
Eric Meek has been appointed President and Chief Operating Officer. Mr. Meek previously served as Executive Vice President and Chief Operating Officer.
Stephen Russell continues to serve as a member of the Company’s Board of Directors.
Stephen Russell commented: “These actions mark the culmination of a successful succession planning effort over the past several years. In Paul’s role as President and Chief Executive Officer and Eric’s role as Executive Vice President and Chief Operating Officer, they both consistently demonstrated the business acumen, leadership skills, and commitment to Celadon’s people that indicated their readiness for their respective positions. Their key roles in developing the leadership team, integrating acquisitions, and driving efficiency throughout the organization have contributed to record financial results and improved returns on capital. Moreover, we expect their extensive background and expertise in finance, information technology, and supply chain trends to provide critical perspective in the dynamic and highly competitive market for transportation services for many years to come.” (Original Source)
Shares of Celadon closed today at $21.71, up $0.01 or 0.05%. The stock’s 50-day moving average is $21.50 and its 200-day moving average is $24.29.
On the ratings front, Celadon has been the subject of a number of recent research reports. In a report issued on July 31, Cowen analyst Jason Seidl reiterated a Buy rating on CGI, with a price target of $30, which implies an upside of 38.2% from current levels. Separately, on July 30, Stifel Nicolaus’ John Larkin reiterated a Buy rating on the stock and has a price target of $28.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jason Seidl and John Larkin have a total average return of 9.2% and 14.5% respectively. Seidl has a success rate of 60.0% and is ranked #915 out of 3724 analysts, while Larkin has a success rate of 65.5% and is ranked #416.
Celadon Group Inc, through its subsidiaries, provides truckload transportation services between United States, Canada and Mexico. It offers services such as long-haul, regional, dedicated, less-than-truckload, intermodal and logistics services.