Trailer Bridge Appoints Ivy Barton Suter as Chief Executive Officer
JACKSONVILLE, Fla. - (BUSINESS WIRE) - Trailer Bridge, Inc. (NASDAQ Global Market: TRBR) today announced the appointment of Ivy Barton Suter as Chief Executive Officer ("CEO" ), effective immediately. She succeeds Ralph W. Heim, who had served as the Company's Interim CEO since December 2008. Mr. Heim will remain with the Company as President and Chief Operating Officer.
The Company also stated that the positive operating trends that impacted results for the second quarter ended June 30, 2009 have continued into the current third quarter. Volumes and capacity utilization have increased for the July and August two month period compared to similar periods in the first and second quarters of 2009.
Ms. Suter has over 20 years of executive experience in a variety of industries, including marine, shipping and intermodal operations. From 2006, Ms. Suter served as Managing Director at Alvarez & Marsal, a privately-held, global services firm. During her tenure, Ms. Suter advised companies in areas such as financial and operational due diligence, M&A, and turnarounds. From 2005-2006, she served as President of Service Solutions' Tools & Equipment, N.A., a business owned by SPX Corporation, where she led a team that grew sales organically and significantly increased operating profit and cash flow. From 2001-2005, she served as President of Gast Manufacturing a unit of IDEX Corporation, where she led the growth of the Gast business.
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