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NEW ORLEANS, June 28, 2010 (GLOBE NEWSWIRE) -- Westway Group, Inc. (Nasdaq:WWAY) announced today the retirement of Peter Harding from his position as Chief Executive Officer and as a member of the Board of Directors of the Company. Mr. Harding held these positions since May of 2009.
The Board of Directors has appointed James B. Jenkins interim Chief Executive Officer of the Company. Wayne Driggers, most recently holding the position of Chief Operating Officer, has been named President of the Company and appointed to the Board of Directors to serve for the remainder of Mr. Harding's term. Mr. Driggers and Thomas Masilla, Chief Financial Officer of the Company, will report to Mr. Jenkins in their respective roles.
Mr. Harding stated that "a year and half ago, I developed a set of goals for myself and the Company, including completion of the business combination of the liquid storage and liquid feed companies with Shermen; the establishment of a highly qualified management team; listing of our corporate securities on a major exchange; access of Westway to the credit markets; and the launching of a strategy for growth focused on a major acquisition in the Cincinnati marketplace and several important capital development projects to expand our capacity, footprint and the Westway brand on a global basis. In a relatively short time, we have made great strides in the accomplishment of these goals. With this in mind, I have decided that it is appropriate for me to retire from Westway knowing that my legacy is in good hands. I look forward to more personal time with my family."
Francis P. Jenkins, Jr., Chairman of Westway Group, Inc. commented that "the Board expresses its sincere appreciation for the achievements of Westway under Peter's leadership. As the result of his efforts and that of his very capable staff, the Company is on a solid path with good momentum for the future. We thank Peter for his years of service with both Westway and ED & F Man and wish him well in his future endeavors."