GlobalTranz names Renee Krug new CEO, Bob Farrell to transition to executive chairman, Lara Stell appointed CFO
PHOENIX (December 14, 2018) — (BUSINESS WIRE) GlobalTranz Enterprises, Inc., a leading technology-driven third-party logistics (3PL) solutions provider, today announced that effective January 1, 2019 it has named Renee Krug as its new CEO and member of the company’s board of directors. Bob Farrell, GlobalTranz’s current CEO, was named executive chairman. Krug joined GlobalTranz as CFO in October of 2014. Additionally, the company announced the promotion of Lara Stell to CFO.
“Renee has been instrumental in helping drive GlobalTranz’s record growth and position as a market leading transportation management solutions and technology company,” said Farrell, chairman and CEO of GlobalTranz. “She brings tremendous leadership skills, domain knowledge and multi-discipline experience that will drive GlobalTranz to new heights in the future.”
Prior to being named CFO of GlobalTranz, Krug was CFO of Clear Channel Outdoor and VP of finance at Swift Transportation. Earlier in her career, she held a variety of leadership roles at Honeywell in technology, operations, sales and Six Sigma process improvement. Since she joined GlobalTranz, the company has grown revenue 36.1% CAGR and EBITDA 87.6% CAGR, closed seven acquisitions and became the 10th largest freight brokerage in the US by Transport Topics.
“I am excited to be part of the continued evolution of the GlobalTranz leadership structure,” said Krug, CFO of GlobalTranz. “The collective and collaborative hard work by everyone in the GlobalTranz community has positioned the company well for the future. I look forward to building on our current success and driving new advances in our technology, providing innovative solutions to our customers, fostering strong carrier partnerships and providing the best work environment for our incredible freight agents and employees.”
Stell joined GlobalTranz as VP of finance in October of 2014. Stell brings to GlobalTranz a diverse background in accounting, finance, planning and operations. Prior to GlobalTranz, she worked with Krug at Swift Transportation and Clear Channel Outdoor. Earlier in her career she was an audit professional at PwC .
“Lara has provided extraordinary leadership in our finance organization over the last four years,” said Krug. “Her ability to support the various functions of the company with actionable visibility on operations and results is unmatched. Lara empowers our management with the tools they need to maximize growth and create shareholder value.”
“I am honored to be appointed the CFO of GlobalTranz,” said Stell. “I look forward to working with the team to create ongoing improvements in planning and financial management that aid strong execution and support outsized growth both organically and through acquisitions.”
Earlier this year, The Jordan Company, L.P. (TJC) with certain management acquired 100% of GlobalTranz from Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners, Susquehanna Growth Equity, Volition Capital, Savano Capital Partners, and other investors to become the company’s new equity partner.
“We are very excited by GlobalTranz’s progress in the short time since our investment in the company in June 2018,” said Brian Higgins, senior partner, The Jordan Company. “Critical to our long-term success is the ongoing build-out of talented, empowered management teams. The promotions of Bob, Renee and Lara will facilitate continued growth in the business.”
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GlobalTranz is a technology company providing award-winning cloud-based multi-modal Transportation Management System (TMS) products to shippers, carriers, 3PLs and brokers. GlobalTranz is leading the logistics software and services market in innovative technology that optimizes the efficiency of freight movement and matches shipper demand and carrier capacity in real-time. Leveraging its extensive independent agent network, GlobalTranz has emerged as a fast-growing market leader with a customer base of over 1 million product users and 25,000 shippers. In 2018, Transport Topics named GlobalTranz a Top 10 largest freight brokerage firm in the U.S.
About The Jordan Company, L.P.
TJC (www.thejordancompany.com), founded in 1982, is a middle-market private equity firm that has managed funds with original capital commitments in excess of $11 billion since 1987 and a 35-year track record of investing in and contributing to the growth of many businesses across a wide range of industries including Industrials, Transportation and Logistics, Healthcare and Consumer, and Telecom, Technology and Utility. The senior investment team has been investing together for over 20 years and is supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. Headquartered in New York, NY, TJC also has an office in Chicago, IL.