Forward Air Names Campbell CEO

Click here to write a Letter to the Editor.

orward Air Corp., a contractor to the air cargo industry, said that it had named Bruce Campbell the company's new chief executive officer. The company also announced higher third-quarter profits and that it had filed for a secondary stock offering.

Campbell had spent the past 13 years as Forward's chief operating officer and was named president in 1998. A new COO was not named in the company's statement, but Forward did say founder and former CEO Scott Niswonger would continue as chairman.

The company also said its net income for the third quarter was $6.3 million or 29 cents per share, compared with $4.6 million or 21 cents a year earlier. Operating revenue increased 5.4% to $60.5 million.

In addition, Forward said it had filed a registration statement with the Securities and Exchange Commission for a secondary offering of 2.2 million shares of common stock.

The shares would be sold by Chairman Niswonger, the company said in a statement, and would include an option for the underwriters to purchase an additional 330,000 shares.

Forward is ranked No. 70 on the 2003 Transport Topics 100 list of the largest U.S. and Canadian trucking companies.