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Atlanta, GA; August 14, 2008
Tony Schnug, CEO of AmeriCold, has decided to step back from day to day activities and return to the Yucaipa Companies as an operating partner ? a role that he formerly held and which is consistent with his desire to spend more time with his family. In this capacity, Tony will become Chairman of the Board of AmeriCold and provide strategic support to the management team as well as other Yucaipa investment holdings. Effective immediately, Jos Opdeweegh will replace Tony as CEO.
Until recently, Jos Opdeweegh served as the President and CEO of TDS logistics, a global contract logistics company comparable in size to Americold. Jos also served as an operating partner at Yucaipa Companies, where he oversaw the logistics portfolio companies, including Americold.
Jos's assumption of the CEO role - in concert with Tony?s continued involvement with the Board - is a positive step for ensuring both the strategic continuity and long-term success of Americold. The move also signifies a continued resolve to grow the Company's core domestic distribution network and services, fund expansion into international markets to support customer growth, and further develop "value-added" service offerings.
"I am very pleased with the progress the Company has made and where it is now positioned in the industry in terms of its ability to provide high quality and innovative service offerings.", said Tony Schnug. "By focusing on and shoring up operational fundamentals, building integrated services offerings and restoring customer confidence in the brand, AmeriCold is now firmly positioned to enter a new chapter of domestic and international growth as an industry leader"., added Jos Opdeweegh.
Importantly, no additional operational or organizational changes will affect the Company's core business or alter the Company's primary focus on providing quality and innovative supply chain solutions to its customers.
If you have any questions regarding the above, please feel free to call Chris Hughes, Senior Vice President of Business Development at 678-441-1405 or email him at chughes@amclog.com.
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