USA Truck Announces the passing of Robert M. Powell, Founder of USA Truck

Rhea-AI Summary

USA Truck, Inc. (NASDAQ:USAK) mourns the loss of its founder, Robert M. Powell, who passed away on October 7, 2021. A respected leader in the transportation industry, Powell was instrumental in the company's formation and growth. He transitioned the Truckload division of Crawford Produce, Inc. into what is now known as USA Truck in 1983, and led the company's initial public offering in 1992. His legacy includes significant contributions to the trucking community and shaping USA Truck's operations. The company expresses its condolences to the Powell family.

Positive

• Robert M. Powell's leadership established USA Truck as an industry leader.
• Powell's vision and commitment have left a lasting impact on the company.
• He was pivotal in USA Truck's initial public offering in 1992.

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• None.

VAN BUREN, AR / ACCESSWIRE / October 8, 2021 / USA Truck, Inc. (NASDAQ:USAK), headquartered in Van Buren, AR, is deeply saddened to announce the passing of its beloved founder Robert M. Powell, who died peacefully in his home on October 7, 2021, surrounded by his family. Mr. Powell was a true leader and a transportation industry legend, and he was widely respected and considered one of the best Truckload operators in the industry.

Mr. Powell was known and admired for his dedication, commitment, and vision. He understood the challenges of the transportation industry and leveraged his military background to establish USA Truck as an industry leader. Throughout his distinguished career, he served the trucking industry in many capacities, such as representing the State of Arkansas as Vice President of the American Trucking Association in Washington D. C., serving as the President of the Arkansas Trucking Association, and the Chairman of the Arkansas Motor Carriers Association.

James Reed, USA Truck President and CEO, said, "We had the honor of reestablishing our relationship with Mr. Powell over the last several years and recently had him and his family at our Corporate Office during the USA Truck Founders Day celebration. It was beautiful to recognize his accomplishments as a wonderful husband, father, industry leader, and visionary founder who gave so much of himself. Mr. Powell touched the lives of countless people; we are honored to have been among them. We offer our condolences and gratitude to the Powell family."

In 1983 after a twenty-year career with Arkansas Best Corporation, Mr. Powell and a group of managers purchased the company Truckload division, Crawford Produce, Inc. Later, Mr. Powell led the renaming of Crawford Produce to what is known today as USA Truck, a leading capacity solutions provider. He led the 1992 initial public offering of the common stock, which still trades today on Nasdaq. He served USA Truck as Chairman, Director, President and CEO until his retirement in 2011, laying the foundation for who we are today, USAT Capacity Solutions.

Alex Green, USA Truck Chairman of the Board, stated, "Mr. Powell leaves a powerful legacy of commitment to USA Truck and caring for its people. His vision and presence over his many years dedicated to the company continue to be felt as we strive to make USA Truck the best employer and member of the community it can be. Our deepest sympathies to the Powell family."

ABOUT USA TRUCK
USA Truck provides comprehensive capacity solutions to a broad and diverse customer base throughout North America. Our Trucking and USAT Logistics divisions blend an extensive portfolio of asset and asset-light services, offering a balanced approach to supply chain management, including customized truckload, dedicated contract carriage, intermodal, and third-party logistics freight management services. For more information, visit usa-truck.com or call 800-643-2530.

SOURCE: USA Truck, Inc.

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FAQ

What is the significance of Robert M. Powell's passing for USA Truck?

Robert M. Powell's passing represents a profound loss for USA Truck, as he was the founder and a key figure in establishing the company as a leader in the transportation industry.

When did Robert M. Powell pass away?

Robert M. Powell passed away on October 7, 2021.

What contributions did Robert M. Powell make to USA Truck?

Powell transformed Crawford Produce into USA Truck in 1983 and led the company's initial public offering in 1992, significantly shaping its trajectory.

Who acknowledged Robert M. Powell's impact on USA Truck?

James Reed, USA Truck President and CEO, along with Alex Green, Chairman of the Board, recognized Powell's dedication and influence on the company and the transportation industry.