Daseke, Inc. (NASDAQ: DSKE) (“Daseke” or the “Company”), the
largest flatbed, specialized transportation and logistics solutions
company in North America, today announced that Brian Bonner ended
his term as Executive Chairman, effective August 14, 2020. Bonner
will continue to serve the Company as an Independent Director and
Chairman of the Company’s Board of Directors, maintaining the
responsibilities commensurate with the Chairman position. Bonner
has served as an Independent Director since 2015.
Brian Bonner commented, “It has been a privilege
to serve our company and our shareholders as Executive Chairman of
our Board for the last year. The decision to end the position
reflects the thoughtful completion of our managerial leadership
transition and the successful re-establishment of Daseke’s
strategic direction. When I assumed this role as Executive Chairman
a year ago, our Company was going through significant managerial
and cultural changes, requiring more hands-on stewardship from the
Board. This started with finding the right leader to guide our
transformation, and there is no doubt Chris Easter was the right
individual to assume that position. Chris rapidly identified
and prioritized the right transformation actions, while mobilizing
a team of leaders from our existing operating units to execute
those actions. His decisive leadership has re-established
Daseke’s strategic direction centered on operational execution,
while reshaping our culture around one of continuous improvement
and best practices. He has executed a dramatic turnaround in our
financial performance and reinvigorated our company, while
simultaneously navigating the early stages of a pandemic. As
importantly, he set the path forward to deliver even stronger
operational performance by recently framing our long-term potential
to deliver an operating ratio of sub-90%. While there is still much
to achieve, the results of the significant changes that have taken
place over the last year speaks volumes.”
Chief Executive Officer and Director Chris
Easter commented, “I’d like to thank Brian for all the hard work
and steady advisory he has provided to me personally and our team.
Brian has helped oversee the most transformational year in the
history of our Company. Over the last year we have experienced
fundamental improvement in the areas of leadership and strategic
development, and our financial and operational performance results
demonstrate that we are on the right path. I want to acknowledge
his significant contributions over the last year, and I look
forward to continuing to work with him in his role as
Chairman.”
About Daseke, Inc.
Daseke, Inc. is the largest flatbed and
specialized transportation and logistics company in North America.
Daseke offers comprehensive, best-in-class services to many of the
world’s most respected industrial shippers through experienced
people, a fleet of approximately 5,000 tractors and 11,500 flatbed
and specialized trailers, and a million-plus square feet of
industrial warehousing space. For more information, please visit
www.daseke.com.
Forward‐Looking Statements
This news release contains “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements may be identified by
the use of words such as “may,” “will,” “expect,” “anticipate,”
“continue,” “estimate,” “project,” “believe,” “plan,” “should,”
“could,” “would,” “forecast,” “seek,” “target,” “predict,” and
“potential,” the negative of these terms, or other comparable
terminology. Projected financial information, including our
guidance outlook, are forward-looking statements. Forward-looking
statements may also include statements about the Company’s goals,
including its restructuring actions and cost reduction initiatives;
the Company’s financial strategy, liquidity and capital required
for its business strategy and plans; the Company’s competition and
government regulations; general economic conditions; and the
Company’s future operating results.
These forward-looking statements are based on
information available as of the date of this release, and current
expectations, forecasts and assumptions. While management believes
that these forward-looking statements are reasonable as and when
made, there can be no assurance that future developments affecting
us will be those that the Company anticipates. Accordingly,
forward-looking statements should not be relied upon as
representing the Company’s views as of any subsequent date, and the
Company does not undertake any obligation to update forward-looking
statements to reflect events or circumstances after the date they
were made, whether as a result of new information, future events or
otherwise, except as may be required under applicable securities
laws. Accordingly, readers are cautioned not to place undue
reliance on the forward-looking statements.
The effect of the COVID-19 pandemic may remain
prevalent for a significant period of time and may continue to
adversely affect the Company’s business, results of operations and
financial condition even after the COVID-19 pandemic has subsided
and “stay at home” mandates have been lifted. The extent to which
the COVID-19 pandemic impacts the Company will depend on numerous
evolving factors and future developments that it cannot predict.
There are no comparable recent events that provide guidance as to
the effect the COVID-19 global pandemic may have, and, as a result,
the ultimate impact of the pandemic is highly uncertain and subject
to change. Additionally, the Company will regularly evaluate its
capital structure and liquidity position. From time to time and as
opportunities arise, the Company may access the debt capital
markets and modify its debt arrangements to optimize its capital
structure and liquidity position.
Forward-looking statements are subject to risks
and uncertainties (many of which are beyond our control) that could
cause actual results or outcomes to differ materially from those
indicated by such forward-looking statements. These factors
include, but are not limited to, general economic and business
risks, such as downturns in customers’ business cycles and
disruptions in capital and credit markets, the impact to the
Company’s business and operations resulting from the COVID-19
pandemic, the Company’s ability to execute and realize all of the
expected benefits of its integration, business improvement and
comprehensive restructuring plans, the Company’s ability to
complete planned or future divestitures successfully, the Company’s
ability to adequately address downward pricing and other
competitive pressures, driver shortages and increases in driver
compensation or owner-operator contracted rates, loss of senior
management or key operating personnel, our ability to realize
intended benefits from its recent or future acquisitions,
seasonality and the impact of weather and other catastrophic
events, fluctuations in the price or availability of diesel fuel,
increased prices for, or decreases in the availability of, new
revenue equipment and decreases in the value of used revenue
equipment, the Company’s ability to generate sufficient cash to
service all of the Company’s indebtedness, restrictions in its
existing and future debt agreements, increases in interest rates,
changes in existing laws or regulations, including environmental
and worker health safety laws and regulations and those relating to
tax rates or taxes in general, the impact of governmental
regulations and other governmental actions related to the Company
and its operations, litigation and governmental proceedings, and
insurance and claims expenses. You should not place undue reliance
on these forward-looking statements. For additional
information regarding known material factors that could cause our
actual results to differ from those expressed in forward-looking
statements, please see Daseke’s filings with the Securities and
Exchange Commission, available at www.sec.gov, including Daseke’s
most recent annual report on Form 10-K, and subsequent quarterly
reports on Form 10-Q, particularly the section titled “Risk
Factors”.
Investor Relations:
Alpha IR GroupJoseph Caminiti or Chris
Hodges312-445-2870DSKE@alpha-ir.com
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