Thom Albrecht, former Chief Financial Officer, Chief Strategy Officer, and Executive Vice President of now-defunct mega carrier Celadon, has been appointed a new independent director, effective immediately, to the ArcBest (CCJ Top 250, No. 15) Board of Directors.
Albrecht, who has more than 35 years of experience in transportation and logistics, will serve on the company's Audit Committee. He currently serves as Chief Revenue Officer at Reliance Partners, a commercial insurance agency specializing in transportation and logistics, where he previously held the role of CFO.
While at Celadon, Albrecht helped guide the company through the several business units as the Indianapolis-based carrier sought to reduce its debt. He also helped settle multiple class action and derivative lawsuits, and led a multi-year restatement and cleaning up of Department of Justice and SEC investigations.
Albrecht spent 28 years on Wall Street specializing in the transportation sector and is a seven-time Wall Street Journal All Star. He was recognized multiple times as best analyst in his sector for regional/boutique firms by Institutional Investor magazine.
“We are pleased to welcome Thom to our Board of Directors,” said Judy R. McReynolds, ArcBest chairman and CEO. “His extensive experience in finance, capital allocation, business strategy and insurance – viewed through the lens of our complex industry – adds meaningful perspective to our board as we continue to execute on our long-term strategy.”
Albrecht replaces Steven L. Spinner, who will retire from the board effective Oct. 31. Spinner joined the ArcBest Board of Directors in 2011 and served as Lead Independent Director for nine years, as well as a member of the Audit Committee. During his tenure, Spinner helped guide ArcBest through many key milestones that contributed to its transformation from an LTL company into a leading integrated logistics company. He supported succession planning and oversaw multiple acquisitions as ArcBest expanded its comprehensive suite of logistics solutions.
McReynolds earlier this month announced her plans to retire as CEO of ArcBest at the end of the year and introduced Seth Runser as CEO-elect.
