Substitute Nominee to Stand for Election to
Board of Directors at Upcoming Annual Shareholders Meeting
MISSISSAUGA, ON, March 17, 2021 /CNW/ - Cargojet Inc.
("Cargojet" or the "Corporation") (TSX: CJT) is
pleased to announce that Mr. Alan
Gershenhorn has been appointed to its board of directors
(the "Board") effective today and will stand for election at
the Corporation's Annual Meeting of Shareholders scheduled to be
held on Tuesday, March 30, 2021 (the
"Meeting").
Mr. James R. Crane has resigned
from the Board in line with best corporate governance practices in
order to pursue a business venture in the US with whom Cargojet has
a significantly expanding commercial relationship. The Board thanks
Mr. Crane for his invaluable leadership and contribution to the
Corporation. As lead director, Mr. Paul
Godfrey will act as interim independent chair of the
Board.
"During his three years as Chair, Jim's leadership and advise
has guided the Board and Cargojet to achieve tremendous growth and
success while significantly strengthening its governance
practices," said Dr. Ajay Virmani,
President and Chief Executive Officer. "We sincerely thank Jim for
his time, advise and contribution to Cargojet."
"I am also thrilled to be welcoming Alan
Gershenhorn to Cargojet's Board. Alan's industry knowledge,
strategic insights, and global perspective will serve Cargojet
well," noted Dr. Virmani.
Mr. Gershenhorn brings over 40 years of experience in U.S. and
international enterprise logistics to the Board. During his 39-year
tenure at United Parcel Service, Inc. ("UPS"), the world's
largest package delivery company, Mr. Gershenhorn served in several
significant leadership positions, including most recently as
Executive Vice President and Chief Commercial Officer through
June 2018. At UPS, Mr. Gershenhorn
directed strategy, mergers and acquisitions, marketing, sales,
public affairs, communications, and key growth strategies globally
across the organization. Mr. Gershenhorn is currently a Principal
of Horn Strategy Partners, LLC, which provides strategy and
business development advisory services to technology and logistics
businesses. A more comprehensive biography of Mr. Gershenhorn can
be found below.
Mr. Gershenhorn is not considered independent under applicable
securities laws. The Board remains comprised of a majority of
independent directors and all committees of the Board remain
comprised entirely of independent directors.
Important Shareholder Information Concerning the
Meeting
Cargojet is relying on the discretionary authority granted to
management in the Management Information Circular of the
Corporation dated March 3, 2021 (the
"Circular") to substitute Mr. Gershenhorn as a director
nominee in place of Mr. Crane.
Management of the Corporation recommends that the shareholders
vote FOR the election of Mr. Gershenhorn as a director of
the Corporation at the Meeting.
Shareholders are reminded that due to the unprecedented public
health impact of the global COVID-19 pandemic, Cargojet will hold
the Meeting in a virtual only format, which will be conducted via
live audio webcast. Shareholders will not be able to physically
attend the Meeting. Please read the instructions in the Circular
regarding how to vote at, or attend, the Meeting and how to appoint
a third party proxyholder. Please note that shareholders attending
the Meeting must be connected to the internet at all times during
the Meeting in order to be able to vote when balloting
commences.
To vote for the election of Mr. Gershenhorn as a director of the
Corporation at the Meeting, shareholders are directed to treat the
election boxes for Mr. Crane on the form of proxy or voting
instruction form, as applicable, as election boxes for Mr.
Gershenhorn. For greater certainty, all votes cast in support of
or withheld from Mr. Crane shall be treated as votes cast in
support of or withheld from Mr. Gershenhorn.
Registered shareholders who have already executed and submitted
the form of proxy enclosed in the Circular who wish to change their
vote may do so by:
- completing a proxy form that is dated later than the proxy form
being revoked and mailing or faxing it to Computershare Investor
Services Inc., the Corporation's transfer agent, so that it is
received before 1:00 p.m.
(Toronto time) on March 26, 2021;
- sending a revocation notice in writing to the Corporate
Secretary of the Corporation at its registered office so that it is
received at any time up to and including the last business day
before the date of the Meeting. The notice can be provided by the
shareholder or the authorized attorney of such shareholder;
- requesting from the chair of the Meeting in writing that your
proxy be revoked; or
- voting by online ballot on the matters put forth at the Meeting
after using the 15-digit Control Number provided to registered
shareholders to login to the Meeting and accepting the terms and
conditions. Voting by online ballot at the Meeting will revoke
any and all previously submitted proxies for the Meeting. If
a registered shareholder does not vote by online ballot at the
Meeting, any previously submitted proxies will not be revoked and
will continue to be counted by our transfer agent in tabulating the
vote with respect to the matters put forth at the Meeting.
A non-registered shareholder (being a shareholder who holds
their shares through a broker, investment dealer, bank, trust
company, custodian, nominee or other intermediary) may revoke a
voting instruction or proxy authorization form given to an
intermediary at any time by written notice to the intermediary,
except that an intermediary may not act on a revocation of a voting
instruction or proxy authorization form that is not received by the
intermediary in sufficient time prior to the Meeting.
Non-registered shareholders who have not duly appointed themselves
as proxyholders will be able to attend the Meeting as guests, but
will not be able to vote at the Meeting. If you are a
non-registered shareholder and wish to vote at the Meeting, you
have to appoint yourself as proxyholder. Please see the Circular
for further instructions.
Shareholders who have already executed and submitted the form of
proxy enclosed in the Circular and who DO NOT wish to change
their vote need take NO FURTHER ACTION.
The Circular has been mailed to shareholders and is available
for viewing on SEDAR. Except as described above, the Circular
remains unchanged from the version that was mailed to the
shareholders of the Corporation and previously filed on SEDAR.
Additional Biographical Information Concerning Alan
Gershenhorn
Mr. Gershenhorn brings over 40 years of experience in U.S. and
international enterprise logistics to the Board. During his 39-year
tenure at UPS, Mr. Gershenhorn served in several significant
leadership positions, including most recently as Executive Vice
President and Chief Commercial Officer through June 2018. At UPS, Mr. Gershenhorn directed
strategy, mergers and acquisitions, marketing, sales, public
affairs, communications, and key growth strategies globally across
the organization. Mr. Gershenhorn is currently a Principal of Horn
Strategy Partners, LLC, which provides strategy and business
development advisory services to technology and logistics
businesses. In addition to Mr. Gershenhorn's role as Executive Vice
President and Chief Commercial Officer of UPS, he served as a
member of the UPS Management Committee, which directs global
strategy and day-to-day operations, for over a decade, and led
numerous transformational programs during his tenure. Mr.
Gershenhorn previously served in other significant UPS leadership
positions with both global and regional responsibilities including
Chief Sales and Marketing Officer, Senior Vice President, and
President UPS International; President UPS Supply Chain Solutions
Global Transportation and Shared Services; President Supply Chain
Solutions Europe, Asia,
Middle East, and Africa; and President UPS Canada. In addition
to his corporate responsibilities at UPS, Mr. Gershenhorn served as
a Trustee of the UPS Foundation, a charitable organization which
promotes environmental sustainability, volunteerism, community
safety, and equity and inclusion, and was a delegate of the World
Business Council for Sustainable Development. Mr. Gershenhorn
serves on the boards of Beacon Roofing Supply, Inc., the largest
publicly traded distributor of roofing materials and complementary
building products in the United
States and Canada, and
Transportation Insight, Worldwide Express, and Ascend Transport
Group, which are privately held enterprise logistics companies, and
acts in an advisory role to 8VC, a venture capital firm. Mr.
Gershenhorn is also currently the Chairman and Chief Executive
Officer of Logistics Innovation Technologies Corp., a special
purpose acquisition company focusing on opportunities in the global
logistics industry. Logistics Innovation Technologies has recently
filed a registration statement with the U.S. Securities and
Exchange Commission but there is currently no public market for its
securities nor does it have any operating business. Mr. Gershenhorn
holds a degree in finance from the University
of Houston. He is 62 years of age and a resident of
Alpharetta, Georgia, USA.
About Cargojet
Cargojet is Canada's leading
provider of time sensitive premium air cargo services to all major
cities across North America,
providing Dedicated ACMI and International Charter services and
carries over 25,000,000 pounds of cargo weekly. Cargojet operates
its network with its own fleet of 27 Cargo aircraft.
Notice on Forward-Looking Statements:
Certain statements contained herein constitute "forward-looking
statements". Forward-looking statements look into the future and
provide an opinion as to the effect of certain events and trends on
the business of the Corporation. Forward-looking statements may
include words such as "plans", "intends", "anticipates", "should",
"estimates", "expects", "believes", "indicates", "targeting",
"suggests" and similar expressions. These forward-looking
statements are based on current expectations and entail various
risks and uncertainties. Reference should be made to the issuer's
public filings available at www.sedar.com and at
www.cargojet.com, including its most recent Annual Information Form
filed with Canadian securities regulators, and its most recent
Annual Consolidated Financial Statements and Notes thereto and
related Management's Discussion and Analysis (MD&A), for a
summary of major risks. Actual results may materially differ from
expectations, if known and unknown risks or uncertainties affect
our business, or if our estimates or assumptions prove inaccurate.
The Corporation assumes no obligation to update or revise any
forward-looking statement, whether as a result of new information,
future events or any other reason, other than as required by
applicable securities laws. In the event the Corporation does
update any forward-looking statement, no inference should be made
that the Corporation will make additional updates with respect to
that statement, related matters, or any other forward-looking
statement.
SOURCE Cargojet Inc.