INDIANAPOLIS, April 15, 2016 /PRNewswire/ -- Celadon Group, Inc. (NYSE:CGI) today announced the passing of founder Steve Russell on April 15. Russell started Celadon in 1985 and grew the company from a small, dry van carrier to a large, national multiservice carrier. He was 76 years old.
"We are deeply saddened by Steve's passing," said Paul Will, Board Chairman and Chief Executive Officer. "Our thoughts and prayers are with Steve's family and many friends at this time."
Russell started Celadon transporting automotive parts to an automotive plant in Mexico more than thirty years ago. Today, Celadon generates more than $1 billion in revenue, operates a fleet consisting of more than 5,000 tractors, 12,000 trailers, and employs more than 4,000 associates across North America.
"We instituted a succession plan several years ago to begin to plan for this date," commented Will. "Over the past year, we have promoted Eric Meek to President and COO and made other changes to our executive team as Steve stepped away from the business."
Prior to starting Celadon, Russell worked in management positions including, Director of Advanced Product Planning for Ford Motor Company, Chief Financial Officer for RCA Corporation, and President of Hertz Truck and Equipment Corporation. He earned a BA in mathematics and an MBA in finance and marketing from Cornell University.
Russell was a member of the American Trucking Associations' Executive Committee. He also served on the board of directors for the Cornell University Graduate School of Management, the Eiteljorg Museum, and the Indianapolis Museum of Art.
About Celadon: Celadon Group, Inc. (www.celadongroup.com), through its subsidiaries, provides long-haul, regional, local, dedicated, intermodal, temperature-protect and expedited freight service across the United States, Canada and Mexico. The company also owns Celadon Logistics Services, which provides freight brokerage services, freight management, as well as supply chain management solutions, including warehousing and distribution.
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SOURCE Celadon Group, Inc.