• ITVI.USA
    13,795.070
    81.410
    0.6%
  • OTRI.USA
    26.560
    -0.120
    -0.4%
  • OTVI.USA
    13,740.380
    64.000
    0.5%
  • TLT.USA
    2.720
    -0.060
    -2.2%
  • TSTOPVRPM.ATLPHL
    2.670
    0.130
    5.1%
  • TSTOPVRPM.CHIATL
    2.930
    0.280
    10.6%
  • TSTOPVRPM.DALLAX
    1.320
    -0.020
    -1.5%
  • TSTOPVRPM.LAXDAL
    3.040
    0.050
    1.7%
  • TSTOPVRPM.PHLCHI
    1.740
    0.050
    3%
  • TSTOPVRPM.LAXSEA
    3.210
    0.000
    0%
  • WAIT.USA
    108.000
    5.000
    4.9%
  • ITVI.USA
    13,795.070
    81.410
    0.6%
  • OTRI.USA
    26.560
    -0.120
    -0.4%
  • OTVI.USA
    13,740.380
    64.000
    0.5%
  • TLT.USA
    2.720
    -0.060
    -2.2%
  • TSTOPVRPM.ATLPHL
    2.670
    0.130
    5.1%
  • TSTOPVRPM.CHIATL
    2.930
    0.280
    10.6%
  • TSTOPVRPM.DALLAX
    1.320
    -0.020
    -1.5%
  • TSTOPVRPM.LAXDAL
    3.040
    0.050
    1.7%
  • TSTOPVRPM.PHLCHI
    1.740
    0.050
    3%
  • TSTOPVRPM.LAXSEA
    3.210
    0.000
    0%
  • WAIT.USA
    108.000
    5.000
    4.9%
Less than TruckloadLogisticsNews

Saia’s CFO leaves for top executive job at Americold

In a somewhat surprising move, Saia Inc. (NASDAQ:SAIA) CFO Robert Chambers has left the less-than-truckload (LTL) carrier after eight months to return to his former employer, refrigerated warehousing and storage firm Americold Realty Trust (NYSE:COLD), as executive vice president and chief commercial officer.

Chambers has been succeeded by Douglas Col, who was promoted to Saia’s CFO after six years at the company. Col will also maintain his vice president’s title, Saia said late Tuesday.

Chambers will not have to travel far for his new role. Saia and Americold are headquartered in Atlanta’s northern suburbs.

In a note Wednesday, Amit Mehrotra, transport analyst at Deutsche Bank, said Chambers’ departure was unexpected but should have no negative impact on Saia given Col’s experience. Of more near-term concern to Mehrotra are the disappointing fourth-quarter results that Saia will likely report next month, as the more than yearlong downturn in the U.S. industrial economy continues to take its toll on shipper demand and LTL revenue. Industrial traffic is the LTL industry’s bread and butter.

Saia shares were down more than 3% as of 1 PM EST Wednesday. Americold’s shares were off fractionally. Americold is the world’s largest publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of temperature-controlled warehouses.

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Mark Solomon

Formerly the Executive Editor at DC Velocity, Mark Solomon joined FreightWaves as Managing Editor of Freight Markets. Solomon began his journalistic career in 1982 at Traffic World magazine, ran his own public relations firm (Media Based Solutions) from 1994 to 2008, and has been at DC Velocity since then. Over the course of his career, Solomon has covered nearly the whole gamut of the transportation and logistics industry, including trucking, railroads, maritime, 3PLs, and regulatory issues. Solomon witnessed and narrated the rise of Amazon and XPO Logistics and the shift of the U.S. Postal Service from a mail-focused service to parcel, as well as the exponential, e-commerce-driven growth of warehouse square footage and omnichannel fulfillment.

One Comment

  1. Saia is not a good company tobwork for. The Management treat thier employees like a number not like person. Your parents can be Dying and they still will give u a point. Carlos dock manager is one of the persons that dont care.

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