FORWARD AIR CORPORATION (NASDAQ:FWRD) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(c) Forward Air Corporation (the “Company” or “Forward”) has appointed Scott E. Schara, 53, to serve as the Company’s Chief Commercial Officer effective as of August 31, 2020.
Tom Schmitt, Chairman, President and CEO said, “Scott is a world-class leader with a surgical approach to driving profitable revenue and growth. His broad understanding of the surface transportation landscape coupled with his ability to create high-performance sales teams and develop high-value strategies makes him a perfect fit for Forward as we enter a new stage of growth. We are thrilled to have him on board.”
Prior to joining the Company, Mr. Schara served as Chief Commercial Officer of Coyote Logistics Inc. (“Coyote Logistics”) since June 2019 and in other various leadership positions of increasing responsibility since he began his career at Coyote Logistics in 2010, including President, Global Sales and Executive Vice President, Strategic Accounts. From 2008 to 2010, Mr. Schara served as Assistant Vice President of Enterprise Development at Hub Group, Inc. (“Hub Group”) and as Regional Sales Manager at Hub Group from 2005 to 2008. Mr. Schara held various other leadership positions at Alliance Shippers, Inc. from 2004 to 2005, The Home Depot, Inc. from 2000 to 2004 and at Exel Logistics, Inc. from 1995 to 2000. Mr. Schara holds a Master of Science Degree in intermodal transportation management from The University of Denver and a Bachelor of Science degree in marketing from Canisius College.
Mr. Schara’s offer letter with the Company, dated July 23, 2020 (the “Offer Letter”), provides that, among other things, he will be:
The foregoing is a summary description of certain terms of the Offer Letter and does not purport to be complete, and it is qualified in its entirety by reference to the full text of the Offer Letter, which is filed as Exhibit 10.1 and incorporated herein by reference.
Mr. Schara does not have any material interest in any transaction that would require disclosure to Item 404(a) of Regulation S-K. There is no understanding or arrangement between Mr. Schara and any other person
or persons with respect to his appointment and there are no family relationships between Mr. Schara and any other director or executive officer or person nominated or chosen by the Company to become a director or executive officer.
SECTION 9. FINANCIAL STATEMENTS AND EXHIBITS.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are being furnished as part of this Report.
FORWARD AIR CORP Exhibit
EX-10.1 2 exhibit101scharaofferletter.htm EXHIBIT 10.1 SCHARA Exhibit July 23,…
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About FORWARD AIR CORPORATION (NASDAQ:FWRD)
Forward Air Corporation offers services, which are classified into three segments: Forward Air, Forward Air Solutions (FASI) and Total Quality (TQI). The Company, through its three segments, offers a range of logistic and other services, including expedited full truckload (TLX), pick-up and delivery (Forward Air Complete), pool distribution, temperature-controlled truckload, warehousing, customs brokerage and shipment consolidation and handling. The Forward Air segment provides time-definite transportation and related logistics services to the North American deferred air freight market. The FASI segment provides pool distribution services through a network of terminals and service locations in over 30 cities throughout the Mid-Atlantic, Southeast, Midwest and Southwest continental United States. The TQI segment provides security and temperature-controlled logistics services, primarily truckload services, to the pharmaceutical and other life science industries.
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