Expeditors names Musser as CEO
Jeffrey S. Musser has been elected by the Expeditors International Board of Directors to succeed Peter Rose as director, president and chief executive officer.
A long-time Expeditors employee, Musser currently works as the firm’s executive vice president and chief information officer, which has been his role for the past nine years.
Expeditors had previously announced that the successor to Rose, who is retiring in March, would be appointed at the company’s managers’ meeting in January.
Rose had worked at Expeditors since 1981 and served as CEO for 25 years. He will keep his position as board chairman until the summer of 2015.
"Jeff has distinguished himself at every level of endeavor throughout his 31-year career at Expeditors," Rose said in a statement. "Throughout that time, Jeff has never been given an assignment where he hasn't exceeded expectations.”
A CEO Selection Committee made up of independent board members chose Musser for the job, and the selection achieved unanimous approval.
For his part, Musser said he sees succeeding Peter Rose to be “an enormous challenge.”
In an investor note, Nate Brochmann of William Blair said Musser has the right background to lead the company.
“We do not expect any radical changes under Mr. Musser's leadership, but we will be interested in whether he has any different viewpoints regarding Expeditors' future strategy,” he wrote. “We will miss Mr. Rose's personality and leadership, but with its embedded culture, strong service orientation, and new product additions, Expeditors is building to become a broader logistics partner to shippers, and the company should be positioned well over the next decade.”
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