Roadrunner LTL President Grant Crawford Leaving Company
Roadrunner Freight President Grant Crawford is leaving his job running the less-than-truckload division of Roadrunner Transportation Systems Inc., the carrier announced June 12.
Frank Hurst, who was hired in January as a senior vice president, will be promoted to the top job.
“Promoting Frank is another step in building the long-term management team across all of Roadrunner and in supporting our efforts to improve the customer experience, on-time service and growth rate at Roadrunner Freight,” Roadrunner CEO Curt Stoelting said.
The Downers Grove, Ill., carrier said Crawford was leaving to pursue other opportunities.
Hurst’s career includes 21 years in the transportation industry, including 16 years of increasing responsibilities at FedEx Freight and as executive vice president at LTL carrier Vitran Express.
In late May, Roadrunner hired Terence Rogers as chief financial officer, replacing Peter Armbruster, who was at the center of a controversy regarding financial statements that have to be refiled from 2014 through 2016. CEO Mark DiBlasi also left his post during the aftermath.
Roadrunner revealed in January an accounting error concerning unrecognized expenses from two acquisitions from 2011 — Morgan Southern and Bruenger — among the first of more than 20 acquisitions in the following 3½ years. Stoelting said the impact likely would be between $20 million and $25 million on the operating income.
The company also announced it would record an additional goodwill impairment charge between $175 million and $200 million after an audit from accounting firm Deloitte & Touche.
Due to the delinquency, the New York Stock Exchange notified Roadrunner in April that it had violated the continued listing requirements and has until Sept. 30 to file a 2016 annual report with the Securities and Exchange Commission or else it can be delisted.
Roadrunner ranks No. 16 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers.