Roadrunner Transportation moving HQ to Illinois

Company cites need for easier travel for new management

Organizations:

Roadrunner Transportation Systems Inc. is moving its headquarters from Cudahy to Downers Grove, Illinois, citing a desire to allow easier travel for its new executive team.

The company already has an office in Downers Grove and said it would retain office space and key business and support functions at its Cudahy location. Approximately 185 positions will remain in Cudahy, with no workforce reductions planned.

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Roadrunner has revamped its management team this year following the discovery of accounting errors that could result in $20 million to $25 million in adjustments and more than $200 million in goodwill impairment charges.

Former chief financial officer Peter Armbruster, who had been with the company since 2005, was terminated at the end of March. Mark DiBlasi, who had been chief executive officer since 2006, was removed from his role earlier this month and became vice chairman on an interim basis.

The company then named Curt Stoelting as chief executive officer and today named Terence Rogers as executive vice president and CFO.

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Rogers was previously CFO at The Heico Companies LLC, the parent company for a diversified portfolio of more than 35 businesses.

Stoelting described Rogers as “an experienced and skilled CFO.”

“Adding Terry completes the hiring of our new executive management team. Our strong team is focused on moving the company forward and building long-term shareholder value,” he said.

Roadrunner has yet to release its results from 2016 or any restated results following the discovery of accounting errors.

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