Forward Air Corporation (NASDAQ: FWRD) has elected Thomas S. Albrecht, Ana B. Amicarella and Javier A. Palomarez as non-management directors of its board of directors with terms commencing July 24, 2017, the company said.
On July 11, 2017, Douglas M. Madden informed the Board that he will step down as a Director of the company, effective July 26, 2017. Madden´s decision to step down was not the result of any disagreement on any matter relating to the company´s operations, policies or practices.
Following Madden´s departure, the company´s board will consist of nine members, eight of whom are non-management directors.
Albrecht is the Founder and President of Sword & Sea Transport Advisors LLC, a transportation industry consulting firm. Prior to founding Sword & Sea, he served as Managing Director of BB&T Capital Markets from July 2009 until July 2016.
Amicarella is Managing Director for Aggreko PLC, a power generation solutions company. Prior to joining Aggreko in March 2011, she was general manager of GE Oil & Gas Services for North America.
Palomarez currently serves as the President and Chief Executive Officer of the United States Hispanic Chamber of Commerce, the largest Hispanic business association in the United States (“USHCC”).
Forward Air provides services within four business segments: Expedited LTL (provides expedited regional, inter-regional and national LTL services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals); Truckload Premium Services (provides expedited truckload brokerage, dedicated fleet services, as well as high-security and temperature-controlled logistics services); Intermodal (provides first-and last-mile high-value drayage services both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services); and Pool Distribution (provides high-frequency handling and distribution of time sensitive product to numerous destinations within a specific geographic region).