Schneider announces top executive change, effective April 2019

Green Bay, Wisconsin-based Schneider National, a provider of truckload, intermodal and logistics services, announced this week that President and CEO Chris Lofgren will retire after the company’s April 2019 annual shareholders meeting.

Replacing Lofgren will be current Schneider Executive Vice President and Chief Operating Officer Mark Rourke. When this move becomes official next spring, Rourke will become the fourth president and CEO of 84-year old Schneider National.

“Mark is the absolute right person to lead Schneider moving forward,” said Lofgren in a statement. “He is an exceptional leader, with experience across our entire broad portfolio of services and a track record of proven success. Among many other strengths, Mark is very intelligent, displays sound judgment, understands our business and is an excellent team builder. He is highly respected by the Schneider team and is passionate about the success of our business, our customers, our associates and our shareholders.”

The incoming top Schneider executive joined the company in 1987, working out of Schneider’s Seville, Ohio-based operating center. And over his 30-plus years career at Schneider, Rourke has served Schneider in various capacities, including director of driver training, vice president of customer service, general manager of Schneider Transportation Management and president of truckload services.

Rourke has been in his current role since 2015, and since then Schneider has grown revenues by 20%, adjusted operating earnings by more than 30% and adjusted earnings per share by more than 45%.

As for his predecessor, Schneider officials said that during Lofgren’s 17 years as CEO, the company doubled its annual revenues to $4.4 billion, and also spearheaded the transition from Schneider being a family-led organization to a professional, independently managed enterprise. They also cited how Lofgren oversaw Schneider through the U.S. financial crisis in the late 2000s, led the company’s seven-year Quest technology transformation and played a key role on the team that led the company through its successful initial public offering in April 2017.

Ben Hartford, Robert W. Baird & Co. analyst, wrote in a research note that Schneider’s decision to name Rourke as the next president and CEO  “is an eminently logical choice,” adding that his firm expects no material change in the strategic direction or culture of the organization during or after the transition.