Express-1 Expedited Solutions Announces the Departure of Chief Financial Officer, Director
Express-1 Expedited Solutions, Inc. (the "Company")(AMEX:XPO) today announced the resignation of its Chief Financial Officer and board member, Mark Patterson.
The departure of Mr. Patterson is related to his desire to join a family owned enterprise in Tennessee, and not connected to any disputes or disagreements with the Company's management or board of directors. Patterson's last official day will be April 3, 2009.
Commenting upon his departure, Mr. Patterson stated, "This is one of the most difficult decisions of my professional career. I've enjoyed my time at Express-1 immensely. The employees, management team and directors of this Company are an incredible group of people. I am grateful to have had the opportunity to work as part of this team for the past few years. In the end, the opportunity with Appalachian Underwriters, Inc. was just too significant to pass up. I am leaving behind an incredible team and have every confidence as a shareholder that they will continue to build and develop this incredible business platform over the coming years."
The Company's Chief Executive Officer, Mike Welch, commented, "Mark's experience was instrumental in our acquisition of Concert Group Logistics and the start up of Bounce Logistics. Mark's vision and understanding of transportation will be missed. We wish Mark the best and understand how difficult his decision was. Ultimately the allure of returning home to work for this family business was too strong."
Jennifer Dorris, the Chairperson of Audit Committee of the Board of Directors added, "We're sad to see Mark leaving the Company. He's done an excellent job for us and really helped raise the bar in many areas. After his departure, we have every confidence in the ability of our finance staff and management team to bridge the gaps and manage the financial affairs of the Company, until we appoint a new Chief Financial Officer at a later date."