Expeditors CEO Peter Rose Announces Retirement
07 Oktober 2013 - 11:15PM
Business Wire
Board of Directors to Begin Succession
Planning
Peter J. Rose, Chairman and Chief Executive Officer of
Expeditors International of Washington, Inc. (NASDAQ:EXPD), a
global logistics company, today announced his retirement as the
Company’s Chief Executive Officer effective March 1, 2014.
Announcement of the next CEO is planned to coincide with a
managers’ meeting held in January 2014 to celebrate the Company’s
35th anniversary. Rose is expected to remain as Chairman of the
Board of Directors up until the annual meeting in May 2015. Much of
Rose’s focus as chairman will be to assist the incoming CEO build
relationships with investors, customers and other external
stakeholders.
“I have been blessed and honored to have worked with such a
great group of people, customers and carriers at Expeditors since
1981. We started with six offices, 20 people and $300,000 and
became a company with nearly $6 billion of revenue, 188
full-service offices across six continents and more than 13,000
employees worldwide,” Rose said.
“We have enjoyed great success as a company based on the
dedication of our people and the commitment to our cultural values.
As we finalize arrangements for our 35th anniversary meeting, it is
only natural to reminisce on how far we’ve come. I realized that I
had just completed my 100th quarter as Expeditors’ CEO. That’s 25
years…a generation by some definitions,” Rose said. “While
contemplating that thought, I became increasingly convinced that
our employees, our customers, our service providers and, of course,
our shareholders, need to know who the CEO for the next generation
will be more than I need to continue doing a job I love. I
discussed this matter with our Board of Directors and accordingly,
today I am announcing plans for the Company’s future,” Rose said.
“I look forward to working with the Board of Directors with our
transition to a new CEO, who will be selected from a slate of
well-qualified and experienced internal candidates. The new CEO
will be one resolved to assuring we maintain our cultural values
and focus on providing best-in-class service to customers around
the globe so that our people and our shareholders enjoy even
greater levels of success. The rest of my time will be spent
mentoring and coaching the new CEO with the same dedication and
commitment I’ve given to Expeditors since we founded the Company in
1981,” Rose concluded.
“The Board is immensely grateful for Rose’s dedication to
Expeditors and leadership of decades of accomplishment. Rose has
been at Expeditors for 32 years and it’s CEO for the past 25 years.
His passion for the business has fueled much success for its
shareholders, customers, carriers and employees,” said Robert
Wright, Lead Independent Director.
“The Board’s search for a new CEO will focus on internal
candidates who have consistently exhibited the core values of
Expeditors, delivered on its mission and contributed to the
Company’s performance, recognizing that performance requires not
only delivering outstanding customer service, but also earning the
confidence and loyalty of all employees, customers, carriers and
partners. Expeditors is very fortunate to have a deep bench of
accomplished leaders and it makes sense for the Company to look
there as we begin the succession plan process,” continued
Wright.
Expeditors is a global logistics company headquartered in
Seattle, Washington. The company employs trained professionals in
188 full-service offices and numerous satellite locations located
on six continents linked into a seamless worldwide network through
an integrated information management system. Services include the
consolidation or forwarding of air and ocean freight, customs
brokerage, vendor consolidation, cargo insurance, domestic time
definite transportation services, purchase order management and
customized logistics solutions.
Expeditors International of Washington, Inc.R. Jordan Gates,
206-674-3427President and Chief Operating OfficerorBradley S.
Powell, 206-674-3412Senior Vice President and Chief Financial
Officer
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