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SOURCE Panther Expedited Services, Inc.
SEVILLE, Ohio, Feb. 18, 2013 /PRNewswire/ -- Panther Expedited Services, Inc., a leading provider of premium logistics services and a subsidiary of Arkansas Best Corporation (Nasdaq: ABFS), today announced that R. Louis Schneeberger has been appointed to the position of President and Chief Executive Officer. Accompanying this move, Panther has also announced the appointment of Edward R. Wadel as Chief Operating Officer. Andrew C. Clarke, Panther's President and Chief Executive Officer since 2007, has resigned from the company.
Mr. Schneeberger joined Panther in 2010 as Chief Financial Officer and Treasurer and was involved in the company's sale, by private equity firm Fenway Partners LLC, to Arkansas Best Corporation. He previously served as Chief Financial Officer for two publicly traded companies and as Chairman of the Board for another. Mr. Schneeberger has an extensive background growing small, privately owned companies into large public corporations by increasing efficiency, improving organizational structure and generating revenues.
Mr. Wadel has served as Panther's Chief Information Officer since 2006, though he has been the architect of Panther's technology since the company was founded in 1992. Mr. Wadel initially worked with Panther as an on-site consultant, helping develop many of Panther's original information technology systems. Subsequently, Mr. Wadel formally joined Panther's senior management team. He has extensive experience in all aspects of Panther's ground operations and is closely involved with deployment of Panther's equipment fleet.
During his tenure, Mr. Clarke made significant contributions to Panther's success through enhancement of existing services and solutions and through the development of new markets, all designed to meet changing customer needs. Under his leadership, Panther evolved from a regional expedited trucking company into a global logistics provider, offering premium ground, air and ocean solutions to customers around the world. Panther thanks Andy for his service to the company and wishes him well in his future endeavors.
Panther possesses a strong management team. Continuity of business operations and service to its customers and owner-operators remain its primary focuses. Mr. Schneeberger stated, "The foundation of our success is in an operating philosophy built on consistent performance and reliability in understanding and meeting the unique needs of our customers. Those principles and standards will continue as we move forward in serving them and in continuing to be an integral part of the successful and timely delivery of their products."
Panther became a subsidiary of Arkansas Best Corporation, a widely respected transportation services and solutions provider, in June 2012. Arkansas Best and Panther share a commitment to superior customer service and a vision for offering end-to-end logistics solutions for progressively more complex supply chains. "Panther is an excellent strategic fit for Arkansas Best and we are excited to be part of a company with a rich history of providing superior services and unique logistics solutions," stated Mr. Schneeberger.
Founded in 1992, Panther Expedited Services, Inc. is one of the largest Premium Logistics® companies in the world. Panther provides door-to-door transportation solutions for more than 11,000 customers worldwide, including Fortune 500 corporations, government agencies and transportation service providers. Whether a shipment needs to move over the ground, through the air, or on the ocean, Panther's logistics professionals can provide a range of potential solutions that best meet a customer's time and cost requirements. Panther is obsessive about service and it leads the industry in on-time performance, regardless of the complexity of the shipment. Panther is: On Time, On Target, No Exceptions. More information is available at pantherexpedite.com.
About Arkansas Best
Arkansas Best Corporation, headquartered in Fort Smith, Arkansas, is a freight transportation services and solutions provider. Through its various subsidiaries, Arkansas Best offers a wide variety of logistics solutions including: domestic and global transportation of less-than-truckload ("LTL") and full load shipments, expedited ground and time-definite delivery solutions, freight forwarding services, freight brokerage, oversight of roadside assistance and equipment services for commercial vehicles, and household goods moving market services for consumers, corporations, and the military. More information is available at arkbest.com, abf.com and pantherexpedite.com.
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