Mark Rourke Joins TuSimple Advisory Board as Schneider Takes an Investment Stake in Autonomous Long-Haul Trucking Technology

Rhea-AI Summary

Schneider (NYSE: SNDR) announced that its president and CEO, Mark Rourke, will join TuSimple’s Executive Advisory Board, a global leader in self-driving technology for trucks. This collaboration aims to enhance the development of autonomous trucking solutions. Schneider will maintain a nominal investment in TuSimple, facilitating direct benefits for shippers. Rourke emphasized Schneider's commitment to safe technological advancements in trucking and the importance of professional drivers in future autonomous operations. The company continues to invest in technologies that enhance safety and efficiency.

Positive

• Mark Rourke's addition to TuSimple’s Executive Advisory Board provides Schneider with strategic insights into autonomous trucking.
• Schneider's nominal investment in TuSimple positions it favorably in the evolving autonomous vehicle market, potentially enhancing service offerings.
• Continued emphasis on safety and technology positions Schneider as a leader in logistics innovation.

Negative

• Potential concerns about the continuity of leadership focus between Schneider's core operations and its new role in autonomous technology.

Schneider (NYSE: SNDR), a premier provider of trucking, intermodal and logistics services, announced today that president and CEO Mark Rourke will join TuSimple’s newly established Executive Advisory Board. TuSimple is a global self-driving technology company developing a commercial-ready Level 4 (SAE) fully autonomous driving solution for long-haul heavy-duty trucks.

“The Executive Advisory Board brings together an impressive mix of industry and regulatory leaders from the freight logistics and transportation fields,” said Cheng Lu, CEO, TuSimple. “Our advisors will play a critical role in shaping our go to market strategy and correlating public policy efforts so we can safely and reliably introduce self-driving trucks at scale.”

In addition to providing leadership and a test fleet to shape the future of autonomous trucking, Schneider will have a nominal investment stake in TuSimple, allowing shippers to benefit from Schneider’s growing involvement in this space.

“Schneider always has been – and will be – in the lead at understanding the potential of new technology that can change or impact our industry,” said Rourke. “TuSimple is a leader in developing autonomous technology for the long-haul trucking industry. There will always be a need for well trained and safe professional drivers, and it’s important that we play a key role in safely developing and testing this technology to be the most prepared.”

The carrier has been a leader in the testing, development and deployment of new truck technology for decades. Continued investment in emerging technology that makes its associates safer and improves the overall delivery experience is vital to Schneider’s ongoing success. In recent years, it has invested in advanced driver assistance systems (ADAS) such as collision mitigation and adaptive cruise control, which are the foundation of autonomous vehicle technology.

“While fully autonomous vehicles still have development and regulatory work ahead, we are encouraged by the advances in autonomous technology such as braking and other systems that are helping drivers make our roads safer,” said Rourke. “Schneider will work to test and understand over the coming years how this technology will complement our professional over-the-road driver associates and provide new, innovative opportunities for shippers.”

About Schneider

Schneider is a premier provider of transportation and logistics services. Offering one of the broadest portfolios in the industry, Schneider’s solutions include Regional and Long-Haul Truckload, Expedited, Dedicated, Bulk, Intermodal, Brokerage, Warehousing, Supply Chain Management, Port Logistics and Logistics Consulting.

With nearly $5 billion in annual revenue, Schneider has been safely delivering superior customer experiences and investing in innovation for over 80 years. The company’s digital marketplace, Schneider FreightPower®, is revolutionizing the industry giving shippers access to an expanded, highly flexible capacity network and provides carriers with unmatched access to quality drop-and-hook freight – Always Delivering, Always Ahead.

For more information about Schneider, visit Schneider.com or follow the company socially on LinkedIn and Twitter: @WeAreSchneider.

Source: Schneider SNDR

View source version on businesswire.com: https://www.businesswire.com/news/home/20210120005584/en/

FAQ

What is the significance of Mark Rourke joining TuSimple's Executive Advisory Board for Schneider (SNDR)?

Mark Rourke's position on TuSimple’s Executive Advisory Board allows Schneider to influence the development of autonomous trucking technology, potentially enhancing its logistics services.

How does Schneider's investment in TuSimple affect its operations?

Schneider's nominal investment in TuSimple aligns it with advancements in autonomous technology, potentially improving service offerings for its customers.

What are the expected impacts of the collaboration between Schneider (SNDR) and TuSimple?

The collaboration is expected to shape Schneider's strategy in integrating autonomous technology while maintaining a focus on safety and professional drivers.

What advancements in trucking technology has Schneider made in recent years?

Schneider has invested in advanced driver assistance systems (ADAS) and is committed to testing and deploying technologies that enhance safety and delivery efficiency.