Daily dispatch, Feb. 12: Daseke names new CEO; TFI looks to raise $200M with U.S. IPO

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Updated Feb 13, 2020

Trucking news and briefs for Wednesday, Feb. 12, 2020:

Daseke names new CEO
Daseke (No. 19 on the CCJ Top 250) has named Chris Easter, the company’s former interim CEO, its permanent CEO. Easter began with the company in January 2019 as chief operating officer and was named interim CEO in August.

“Over the last six-months, Chris acted with a clear sense of urgency to implement immediate change and transformation by significantly accelerating and expanding his previously announced operational and cost initiatives,” said Brian Bonner, executive chairman of the board for Daseke.

Easter has more than 30 years of transportation and logistics experience, including roles with the U.S. Army, Walmart and Schneider National. He was also the CEO of Keen Transport from 2012 to 2017.

TFI International applies to go public in U.S. 

TFI International (No. 10 in the CCJ Top 250) on Tuesday announced it will go public in the U.S., having received approval for an initial public offering on the New York Stock Exchange. The company says it hopes to raise some $200 million via the IPO, which it plans to use to pay down debt and free up financing for potential acquisitions.

The company will trade under the ticker symbol TFII. The Saint-Laurent, Quebec, Canada-based company already trades on the Toronto Stock Exchange under the same symbol.

TFI shares currently trade at around $33 a share (in U.S. dollars) on the Toronto exchange. TFI has a market cap of about $2.8 billion.