C.H. Robinson (CHRW) CFO to Depart, Successor Hunt Starts
C.H. Robinson Worldwide CHRW announced that its chief financial officer Mike Zechmeister will vacate his post next year. CHRW, a leading freight broker and third-party logistics provider, has started looking for a new CFO. Zechmeister will remain with the company until a successor is named. However, his stay will not exceed May 31,2024, when he intends to retire.
Recognizing Zechmeister’s contribution, CHRW’s president and chief executive officer, Dave Bozeman said, "We greatly appreciate Mike’s dedication and contributions to Robinson over the past four years to ensure the company’s continued success. During his tenure as CFO, Mike built a strong finance organization that will continue to serve Robinson well.”
Zechmeister joined CHRW in 2019. Prior to that, he occupied the position of chief financial officer at food distributor United Natural Foods UNFI. Zechmeister joined UNFI in 2015 after occupying various finance leadership positions during his 25-year association with General Mills GIS.
CHRW’s management will be hoping that Zechmeister’s successor will be able to turnaround the company’s fortunes through efficient financial leadership. C.H. Robinson’s shares have declined 7.8% in a year’s time against its industry’s 8.6% growth.
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Zacks Rank & Key Picks
CHRW currently carries Zacks Rank #3 (Hold).
Some better-ranked stocks for investors interested in the Zacks Transportation sector are Air Canada ACDVF and Dorian LPG LPG. Each stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Air Canada is being aided by an uptick in passenger traffic. Recently, management announced plans to launch a new year-round route between Montreal and Madrid.
The service will commence in May of the following year as part of its expanded international summer 2024 flying schedule to cater to increased demand. The Zacks Consensus Estimate for ACDVF’s 2023 and 2024 earnings has witnessed an increase of 32.6% and 41.3%, respectively, in the past 60 days.
Dorian LPG is headquartered in Connecticut. LPG is a liquefied petroleum gas shipping company and a leading owner and operator of modern, very large gas carriers.
Dorian LPG has a market capitalization of $1.8 billion. The Zacks Consensus Estimate for LPG’s 2024 earnings has surged 320.9% in the past 60 days. LPG has a Growth Score of B.
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General Mills, Inc. (GIS) : Free Stock Analysis Report
C.H. Robinson Worldwide, Inc. (CHRW) : Free Stock Analysis Report
United Natural Foods, Inc. (UNFI) : Free Stock Analysis Report
Dorian LPG Ltd. (LPG) : Free Stock Analysis Report
Air Canada (ACDVF) : Free Stock Analysis Report
