VELOCITY EXPRESS ANNOUNCES
APPOINTMENT OF
JOHN MCALPIN AS PRESIDENT/COO;
VINCE WASIK WILL CONTINUE
TO SERVE AS CHAIRMAN
- McAlpin Brings Extensive
Experience in the Transportation and Logistics Industry
- New
Executive will Emphasize Customer Service, IC Drivers and Facility Level
Operations
- Wasik to Work With Comvest
on Strategic Initiatives and Business Development Opportunities
WESTPORT, Connecticut.
February 11, 2010 -- Velocity Express (“Velocity”), a leading nationwide
provider of same day transportation and logistics services and solutions,
announced today the appointment of John L. McAlpin as President/COO.
Effective immediately, McAlpin will have responsibility for all day-to-day
operations and personnel. McAlpin has been charged with continuing
to emphasize customer service, IC drivers and facility level operations
for Velocity. All personnel will report directly or indirectly
to John McAlpin.
McAlpin has over 25 years
of experience in the transportation and logistics industry. He
has extensive experience in supply chain optimization solutions, manufacturing,
and engineering. Most recently, since 2004, McAlpin has served
as the head of operations for Newgistics Incorporated, a leading provider
of USPS-based small parcel delivery and return delivery package services.
Newgistics, a key Velocity customer, supports McAlpin's appointment
to the Velocity executive management team. Before joining Newgistics,
McAlpin was Vice President and General Manager with Flextronics International
in their Supply Chain Services division. Prior to that, he served
as Vice President of Transportation with First Union Corporation and
as a Managing Director with Federal Express Logistics Services.
McAlpin holds a Bachelor degree in Mechanical Engineering from the University
of Memphis and is an active member of the Parcel Shippers Association.
Vince Wasik will remain
with Velocity as non-executive Chairman, working directly with Comvest,
Velocity's majority owner, and the Velocity board of directors on strategic
initiatives and business development opportunities. Jeff
Hendrickson will be retiring and remain available to the company on
a consulting basis.
Jerry Vento, Operating
Partner at Comvest, said, "John is a high integrity, no nonsense
executive who will stress the core components of our business.
He will ensure that the customer promises we make will be delivered
on consistently every day at every level of the organization, from local
city management to corporate headquarters."
Jose Gordo, Managing
Director at ComVest, Velocity's majority owner, said, “We feel very
fortunate to have attracted a talent like John. We believe his
deep background in the transportation and logistics industry are exactly
what we need to help lead Velocity into the future. We thank Vince
and Jeff for their many significant contributions to Velocity.
We look forward to continuing to work with Vince in his capacity as
Chairman, where we believe he will be well positioned to bring wisdom
and leadership."
Bill Razzouk, CEO at
Newgistics, said "We are pleased that John has been given this
opportunity with Velocity. He has been very valuable to our success
at Newgistics and we wish him well. We look forward to being a
customer of John's and are optimistic that his involvement with Velocity
could lead to increased business between our two companies."
Additional information
about Velocity is available at the Company’s web site, www.velocityexpress.com under Company Info.
About ComVest
The ComVest Group is a leading private
investment firm focused on providing debt and equity solutions to lower
middle-market companies with enterprise values of less than $350 million.
Since 1988 the ComVest Group has invested more than $2 billion of capital
in over 200 public and private companies worldwide. Through our extensive
financial resources and broad network of industry experts, we are able
to offer our companies total financial sponsorship, critical strategic
support, and business development assistance.
About Velocity Express
Velocity Express has one of the largest
nationwide networks of regional, time definite, ground delivery service
areas, providing a national footprint for customers desiring same day
service throughout the United States. The Company's services are supported
by a customer-focused technology infrastructure, providing customers
with the reliability and information they need to manage their transportation
and logistics systems, including a proprietary package tracking system
that enables customers to view the status of any package via a flexible
web reporting system.
CONTACT:
Kay Durbin, EVP Workforce Resources
Velocity
832-335-9285
