Just last week, Celadon Trucking announced it was selling off its flatbed division. Yesterday the company said it will exit its three Celadon Driving Academy locations in Indianapolis, Laredo, TX and Richmond, VA later this year.
One of Celadon’s third-party driving school partners plans to establish accredited driving schools at each of the three locations. Celadon will continue to need new drivers and has determined that a third-party model is a more effective way to hire new drivers. The company says both of these decisions are being made in an effort to focus on their core business of being a truckload and logistics provider.
President and Chief Operating Officer, Jon Russell commented: “Highly qualified professional truck drivers are the lifeblood of our organization. We recruit and train thousands of drivers each year and constantly evaluate the optimal mix of experienced drivers, student drivers, and driver trainers.
“After a thorough review, we determined that using third-party programs and making additional investments in driver compensation and advanced training would afford a better investment of resources than continuing to operate the schools ourselves. We are trucking specialists, and we will focus on our core business.”
“Celadon is strongly committed to the Celadon Trucking business units (dry van, refrigerated, intermodal, and dedicated) as well as our Celadon Logistics, A&S, and other operations,” continued Russell. “I’m excited at the progress we continue to make in restoring Celadon’s status as a premium truckload and logistics provider.”
Russell added, “We are committed to helping every CDA employee in their career transition. One of Celadon’s third-party driving school partners has expressed interest in hiring many of our associates for their soon-to-be established school here in Indianapolis as well as Richmond and Laredo. In addition, we have open jobs within Celadon for which they can apply.”
The moves appear to be in line with an effort to restructure and focus the company. Earlier this year, the New York Stock Exchange cautioned the company’s stock could be delisted because of financial reporting issues.
