Ascent Global Logistics Announces Formation of New Board of Directors

News provided by

Aug 17, 2020, 07:03 ET

BELLEVILLE, Mich., Aug. 17, 2020 /PRNewswire/ -- Ascent Global Logistics, Inc. ("Ascent" or the "company") has announced the formation of a new Board of Directors, which now includes independent directors Cordia Harrington, founder and CEO of The Bakery Cos., and Jim Van Leenan, former CEO of Flash Global Logistics and USPack Logistics. Additionally, Christopher L. Doerr has moved from the Roadrunner Transportation Systems, Inc. ("Roadrunner") Board to the Ascent Board, contemporaneous with the company's previously announced spin-off.

"I am thrilled to leverage the experience and knowledge of Cordia and Jim, along with the continued valued advice of Christopher, as Ascent comes into its own as a stand-alone logistics platform," said Chris Jamroz, Executive Chairman of Ascent. "The Board and the executive leadership team will undoubtedly benefit from the counsel and input of such strong leaders in the logistics and transportation sector."

Cordia Harrington is founder and CEO of The Bakery Cos., which makes over eight million baked goods daily and employs more than 600 people, serving elite customers in the United States, Caribbean and South America. Her businesses include Bakery Express (trucking) and Cold Storage of Nashville, a freezer facility. Harrington's focus on regulations, culture, sustainability, employee policies and development have led the company to grow organically into an award-winning high-speed bakery enterprise.

Jim Van Leenan is currently an Advisor to the Board for USPack Logistics, a wholly-owned subsidiary of New Spring Capital, with 520 employees. USPack acquired Fleetgistics in 2017, and Van Leenen was appointed Chief Executive Officer for both companies. He most recently served as advisor to the Executive Chairman of the Board of Roadrunner.

Tom Stenglein, President of Ascent, added, "We are excited to begin our journey as Ascent Global Logistics and look forward to providing exemplary service to our clients and value for our shareholders as a stand-alone business."

About Ascent Global Logistics, Inc.
As a leading transportation and supply chain solutions provider, Ascent Global Logistics focuses on uncomplicating logistics. Through its Domestic, International and On-Demand offerings, Ascent helps its clients simplify supply chain management by providing customized solutions, premium customer service and state-of-the-art technology. For more information, please visit the Ascent Global Logistics website, www.ascentgl.com.

Safe Harbor Statement

This press release may contain forward-looking statements and information relating to, among other things, Ascent, its business plans and strategies, its industry and other future events. These statements are often, but not always, made through the use of words or phrases such as "may," "will," "anticipate," "estimate," "plan," "project," "continuing," "ongoing," "expect," "believe," "intend," "predict," "potential," "opportunity," and similar words or phrases or the negatives of these words or phrases. These forward-looking statements are based on Ascent's current assumptions, expectations, and beliefs and are subject to substantial risks, estimates, assumptions, uncertainties and changes in circumstances that may cause Ascent's actual results, performance, initiatives, or achievements to differ materially from those expressed or implied in any forward-looking statement. Because the risks, estimates, assumptions and uncertainties referred to above could cause actual results or outcomes to differ materially from those expressed in any forward-looking statements, you should not place undue reliance on any forward-looking statements. Any forward-looking statement speaks only as of the date hereof, and, except as required by law, Ascent assumes no obligation and does not intend to update any forward-looking statement to reflect events or circumstances after the date hereof. For a full discussion of risks and uncertainties, see the section entitled "Risk Factors" in Roadrunner's Annual Report on Form 10-K for the year ended December 31, 2019 as filed with the Securities and Exchange Commission, and the section entitled "Risk Factors" in the Information Statement regarding Ascent posted at https://investors.rrts.com/corporate-governance/highlights.

SOURCE Ascent Global Logistics