Celadon Group Executive Changes

Celadon Group, Inc announced title changes for certain executive officers

The Company announced the following title changes:

• Thom Albrecht will become Executive Vice President and Chief Commercial and Strategy Officer. Mr. Albrecht had previously served as Executive Vice President, Chief Financial and Strategy Officer. Mr. Albrecht has been devoting a substantial portion of his time to pricing and customer strategy, and this will be his primary responsibility.
• Vincent Donargo will become Executive Vice President, Chief Accounting Officer, and Chief Financial Officer. Mr. Donargo had previously served as Vice President and Chief Accounting Officer. Mr. Donargo will have responsibility for the financial restatement, audit, and public reporting.
• Kathryn Wouters has been appointed to the position of Senior Vice President of Finance and Treasurer. Ms. Wouters previously served as the Company’s Vice President of Finance and Treasurer. Ms. Wouters will have responsibility for our capital structure, including refinancing our existing revolving credit facility, financing the replacement of our tractor fleet, and cash management.

Chief Executive Officer, Paul Svindland, commented: “Thom, Vince, and Kathryn have been key contributors as we have streamlined our business and paid down our credit facility over the past several quarters.  Their title changes reflect our priorities as a newly focused asset-based truckload carrier: enhancing commercial relationships across our customer base, completing our financial statement audits and returning to public reporting, and obtaining and managing a long-term capital structure, including a refresh of our entire U.S. tractor fleet.   We look forward to their continuing contributions as we move forward.”

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