Friday, June 21, 2024

ArcBest names new CFO

Transportation and logistics provider ArcBest announced Thursday that finance veteran Matt Beasley will take over as chief financial officer on May 14. He will also retain his current role as the company’s treasurer.

Beasley has more than 20 years of experience in areas including investor relations, risk management and financial planning and analysis. Prior to joining ArcBest (NASDAQ: ARCB) a year ago, he held executive leadership positions in the energy infrastructure sector.

“Matt is a well-rounded and experienced leader who has positively impacted our organization, and I look forward to working closely with him as the next CFO,” said Judy McReynolds, ArcBest’s chairman, president and CEO. “Since joining ArcBest last year, Matt has become an invaluable contributor, and we will continue to leverage his experience and expertise as we advance our growth strategy.”

Beasley is credited with playing a key role in the company’s recent sale of FleetNet, an emergency roadside and preventive maintenance services provider, a news release stated. He has also been involved in credit facility negotiations and capital allocation planning.

Beasley will replace David Cobb, who has held the position since 2015. In December, ArcBest announced Cobb would retire in October and that it had launched a search for his replacement.

“On behalf of the ArcBest board and the entire team, we also thank David for his significant contributions over the last 17 years, and we wish him the very best in his retirement,” McReynolds said.

Cobb will serve in the role of senior adviser during the transition.

“I am excited for the opportunity to serve ArcBest as its next CFO,” Beasley said. “It’s an honor to be part of such a talented and dedicated team, and I look forward to working together as we build on our 100-year track record of success.”

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