SCHNEIDER WILL SPIN OFF LOGISTICS UNIT
Schneider National, based in Green Bay, Wis., will spin off its logistics business as a separate company.
Schneider Logistics will include the current logistics business and information technology of Schneider National.
Schneider National said it is evaluating funding alternatives for Schneider Logistics, including a public offering of a minority interest in the new company later in 2000.
Chris Lofgren, formerly Schneider National’s chief operating officer, will be chief executive officer of Schneider Logistics. Rodger Mullen, currently vice president-logistics for Schneider National, will be senior vice president-operations of the company.
According to a spokesperson, Schneider Logistics is looking for a chief financial officer and senior logistics sales people.
Don Schneider continues as president and chief executive officer of Schneider National. Scott Arves, vice president-van group, will be chief operating officer of Schneider National, which will continue to be a privately held business.