J.B. Hunt Transport Services, Inc., (NASDAQ:JBHT) announced the following leadership changes in its Truck (JBT) business unit.
Shelley Simpson, Chief Marketing Officer and President of Integrated Capacity Solutions, has been placed into the strategic leadership role of JBT while she maintains her other current responsibilities. We have hired Greg Breeden as the Senior Vice President of JBT Marketing and Network Development. Greg returns to J.B. Hunt after leading Crete Carrier Corporation’s national sales, marketing and customer service team for over 20 years. Greg’s responsibilities will include establishing network pricing, lane density and geographical customer network development. Steve Rogers, Vice President of Operations, has transferred from our Dedicated Contract Services business unit to assist in establishing and maintaining the operational discipline necessary to turn JBT into a consistently profitable business and a contributing unit to J.B. Hunt’s annual financial returns. Craig Harper will focus his efforts on operational service levels across all business units, overall driver recruiting and retention, further developing our safety culture as well as remain responsible for fuel purchasing.
We previously detailed we will invest approximately $130 million in JBT in 2014 to support its strategic vision while expecting to reduce operating costs. We expect to show visible results in JBT’s operating improvements throughout 2014, but realistically expect this transformation to occur over a 24 month period of time.
We also affirm our 2014 expectations for consolidated results of a 10-12% increase in annual consolidated revenue, an 11-15% increase in annual consolidated operating income and a 15% increase in annual interest expense primarily due to the planned $700 million in consolidated net capital expenditures.About J.B. Hunt J.B. Hunt Transport focuses on providing safe and reliable transportation services to a diverse group of customers throughout the continental United States, Canada and Mexico. Utilizing an integrated, multimodal approach, the company provides capacity-oriented solutions centered on delivering customer value and industry-leading service.
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