Frozen Food Express Industries, Inc. Announces Retirement Of Chief Executive Officer
DALLAS, Feb. 23, 2011 (GLOBE NEWSWIRE) -- Frozen Food Express Industries, Inc. (Nasdaq:FFEX) announced today that Stoney M. "Mit" Stubbs, Jr. has retired as Chief Executive Officer (CEO) effective at the end of day Monday February 28, 2011, after twenty seven years as CEO and Chairman of the Board. Mr. Stubbs will remain on the company's Board of Directors, continuing his role as Chairman of the Board. Mr. Stubbs will be replaced as Chief Executive Officer by S. Russell Stubbs, who will also retain his position as President of the company. Mr. Russell Stubbs has been with the company since 1986, most recently serving as President since January, 2010.
Stoney "Mit" Stubbs, Jr. began his professional career with Frozen Food Express Industries, Inc. ("FFE") as a management trainee in 1960, after his graduation from Texas A&M and service in the U.S. Army. Over the next two decades, Mr. Stubbs, Jr. earned increasing responsibility within the company, ultimately earning the role of President of the corporation in 1979. In 1984 he was elevated to the roles of Chairman of the Board, President, and Chief Executive Officer.
Mr. Stubbs, Jr. oversaw the corporation during a period of dramatic growth, through acquisitions of carriers such as Lisa Motor Lines, Middleton Transportation and American Eagle Lines in the 1980s. By 1991, FFE was the nation's largest publicly owned, nationwide full-service motor carrier of perishable commodities. In 1992, FFE made Forbes' list of the 200 best small companies in America, which attracted serious interest from Wall Street investors for the first time. From 1984, when Mr. Stubbs, Jr. was elected Chairman and CEO, until 2005, the company grew from $64 million in annual revenue to over a half billion dollars in 2005.In addition to his work at FFE, Mr. Stubbs, Jr. has been a leader in the transportation industry. In 1995 he served as Chairman of the Texas Motor Transportation Association and in 1996 he also served as Chairman of the Truckload Carriers Association, both of which he serves today on the Executive Committee. Mr. Stubbs, Jr. also continues to serve on the American Trucking Association's Executive Committee.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV