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Shepko to assume permanent CEO duties and continue to lead Daseke’s operational transformation and growth strategy
ADDISON, Texas, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Daseke, Inc. (NASDAQ: DSKE) (“Daseke” or the “Company”), the largest flatbed, specialized transportation and logistics solutions company in North America, announced today that its Board of Directors has appointed Jonathan Shepko as permanent Chief Executive Officer (“CEO”), effective immediately. Mr. Shepko had formerly served as interim Chief Executive Officer since January 2021, in addition to serving Daseke as a director since 2017, and a board observer since 2014.
Charles “Chuck” Serianni, Daseke’s Chairman, stated, “Jonathan has been a highly involved member of our Board of Directors since Daseke became a publicly traded company in 2017. His leadership as our Interim CEO over the last several months, as well as his deep knowledge of our business, industry, and capital markets, each have been instrumental in advancing Daseke’s comprehensive operational and financial restructuring. Jonathan’s success is evident in the record financial results the Company achieved during the second quarter of 2021.”
Serianni added, “The Board of Directors performed an extensive search, interviewed several candidates, and believes that Jonathan brings the appropriate skillset to lead the Company’s strategic path to growth and provides valuable continuity to support the Company as it finalizes its operational transformation. We look forward to his continued leadership as he works together with a deep bench of talented leaders across the organization to execute our strategic vision and drive long-term value for our shareholders.”
Jonathan Shepko noted, “I’m thrilled and humbled to serve the Daseke stakeholders as its CEO. The talent we have across the organization is truly a differentiator for our company, and I look forward to working with this experienced collection of emerging leaders. We are the largest flatbed, specialized transportation and logistics solutions company in North America, and we have a unique opportunity to leverage that position to drive significant, sustainable growth and shareholder value. Our strategic direction and near-term priorities will not change. We will continue to be focused on accelerating technology integration to increase our productivity and efficiency, streamlining our operational structure to create a cohesive network, and pursuing organic growth and targeted M&A to better serve our customers and drive efficiencies through our operating platform.”
About Jonathan Shepko
Jonathan Shepko has served as Interim CEO of Daseke since January 2021 and as a member of the Board since February 2017. Mr. Shepko is a Co-founder and Managing Partner of Stonehollow Capital Partners, which makes direct equity investments in private companies across the United States. He has extensive capital markets and direct investing experience, having served as Managing Partner of EF Capital Management, LP, the investment arm of a substantial single-family office, Managing Director at Ares Management, and Managing Director of CLG Energy Finance (an affiliate of Beal Bank), and a senior role with EnCap Investments, LP. Over the course of his career, he has served in various senior management capacities of portfolio company investments. Collectively, Mr. Shepko has underwritten and managed nearly $2 billion in direct equity and debt financings, spanning multiple industries, including investments in high-growth, as well as mature companies. Mr. Shepko graduated magna cum laude with a degree in Finance from Texas A&M University.
About Daseke, Inc.
Daseke, Inc. is the largest flatbed and specialized transportation and logistics company in North America. Daseke offers comprehensive, best-in-class services to many of the world’s most respected industrial shippers through experienced people, a fleet of more than 4,500 tractors and 11,000 flatbed and specialized trailers. For more information, please visit www.daseke.com.
This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “may,” “will,” “expect,” “anticipate,” “continue,” “estimate,” “project,” “believe,” “plan,” “should,” “could,” “would,” “forecast,” “seek,” “target,” “predict,” and “potential,” the negative of these terms, or other comparable terminology. Projected financial information, including our guidance outlook, are forward-looking statements. Forward-looking statements may also include statements about the Company’s goals, including its restructuring actions and cost reduction initiatives; the Company’s financial strategy, liquidity and capital required for its business strategy and plans; the Company’s competition and government regulations; general economic conditions; and the Company’s future operating results.
These forward-looking statements are based on information available as of the date of this release, and current expectations, forecasts and assumptions. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that the Company anticipates. Accordingly, forward-looking statements should not be relied upon as representing the Company’s views as of any subsequent date, and the Company does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements.
The effect of the COVID-19 pandemic may remain prevalent for a significant period of time and may continue to adversely affect the Company’s business, results of operations and financial condition even after the COVID-19 pandemic has subsided and “stay at home” mandates have been lifted. The extent to which the COVID-19 pandemic impacts the Company will depend on numerous evolving factors and future developments that it cannot predict. There are no comparable recent events that provide guidance as to the effect the COVID-19 global pandemic may have, and, as a result, the ultimate impact of the pandemic is highly uncertain and subject to change. Additionally, the Company will regularly evaluate its capital structure and liquidity position. From time to time and as opportunities arise, the Company may access the debt capital markets and modify its debt arrangements to optimize its capital structure and liquidity position.
Forward-looking statements are subject to risks and uncertainties (many of which are beyond our control) that could cause actual results or outcomes to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, general economic and business risks, such as downturns in customers’ business cycles and disruptions in capital and credit markets, the impact to the Company’s business and operations resulting from the COVID-19 pandemic, the Company’s ability to execute and realize all of the expected benefits of its integration, business improvement and comprehensive restructuring plans, the Company’s ability to complete planned or future divestitures successfully, the Company’s ability to adequately address downward pricing and other competitive pressures, driver shortages and increases in driver compensation or owner-operator contracted rates, loss of senior management or key operating personnel, our ability to realize intended benefits from its recent or future acquisitions, seasonality and the impact of weather and other catastrophic events, fluctuations in the price or availability of diesel fuel, increased prices for, or decreases in the availability of, new revenue equipment and decreases in the value of used revenue equipment, the Company’s ability to generate sufficient cash to service all of the Company’s indebtedness, restrictions in its existing and future debt agreements, increases in interest rates, changes in existing laws or regulations, including environmental and worker health safety laws and regulations and those relating to tax rates or taxes in general, the impact of governmental regulations and other governmental actions related to the Company and its operations, litigation and governmental proceedings, and insurance and claims expenses. You should not place undue reliance on these forward-looking statements. For additional information regarding known material factors that could cause our actual results to differ from those expressed in forward-looking statements, please see Daseke’s filings with the Securities and Exchange Commission, available at www.sec.gov, including Daseke’s most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q, particularly the section titled “Risk Factors”.
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Joseph Caminiti or Chris Hodges