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Covenant Transportation Group Inc (CVTI.OQ)

CVTI.OQ on NASDAQ Stock Exchange Global Select Market

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16 Aug 2018
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Summary

Name Age Since Current Position

David Parker

60 2016 Chairman of the Board, Chief Executive Officer

Joey Hogan

56 2016 President

Richard Cribbs

46 2016 Chief Financial Officer, Executive Vice President

James Heartfield

53 2012 Chief Human Resource Officer, General Counsel

Ralph Lovin

66 2003 Executive Vice President, Corporate Secretary

James Brower

60 2016 Executive Vice President; Chief Operating Officer of Star Transportation, Inc.

William Cartright

39 2017 Executive Vice President and Chief Operating officer

Samuel Hough

52 2013 Executive Vice President and Chief operating officer of CTI

Paul Newbourne

63 2016 Executive Vice President; Chief Operating Officer of Solutions

M. Paul Bunn

40 2012 Chief Accounting Officer, Treasurer

T. Ryan Rogers

42 2018 Chief Transformation Officer at CTI

Herbert Schmidt

62 2017 Director

William Alt

81 1994 Independent Director

Robert Bosworth

70 1998 Independent Director

Bradley Moline

51 2003 Independent Director

W. Miller Welborn

59 2017 Independent Director

Biographies

Name Description

David Parker

Mr. David R. Parker is the Chairman of the Board, Chief Executive Officer of Covenant Transportation Group Inc. From our founding in 1985 to February 2016 Mr. Parker served as our President. Mr. Parker is a past director of the Truckload Carriers Association and currently serves on the board of directors of the American Trucking Associations. Since March 2012, Mr. Parker has served as a member of the Trade and Transportation Advisory Council of the Federal Reserve Bank of Atlanta. Mr. Parker has also served as a director or in similar capacities of several religious and civic organizations and serves as general partner of the Parker Limited Family Partnership. The Board believes Mr. Parker's dedication, trucking experience, general business knowledge, significant leadership ability, and in-depth knowledge of the Company, qualify him for his continued service as CEO, and Chairman of our Board. Additionally, the Board believes Mr. Parker's knowledge of the industry continues to be a competitive strength for the Company.

Joey Hogan

Mr. Joey B. Hogan is the President of Covenant Transportation Group Inc. From May 2007 to February 2016 Mr. Hogan served as our Senior Executive Vice President and COO, as well as President of CTI. Mr. Hogan was our CFO from 1997 to May 2007, our Executive Vice President from May 2003 to May 2007, and a Senior Vice President from December 2001 to May 2003. From joining us in August 1997 through December 2001, Mr. Hogan served as our Treasurer. Mr. Hogan served as a director and on the Audit Committee of Chattem, Inc., a consumer products company, from April 2009 through March 2010.

Richard Cribbs

Mr. Richard B. Cribbs is the Chief Financial Officer, Executive Vice President of Covenant Transportation Group Inc. From May 2007 to February 2016 Mr. Hogan served as our Senior Executive Vice President and COO, as well as President of CTI. Mr. Hogan was our CFO from 1997 to May 2007, our Executive Vice President from May 2003 to May 2007, and a Senior Vice President from December 2001 to May 2003. From joining us in August 1997 through December 2001, Mr. Hogan served as our Treasurer. Mr. Hogan served as a director and on the Audit Committee of Chattem, Inc., a consumer products company, from April 2009 through March 2010.

James Heartfield

Mr. James Heartfield is the Chief Human Resource Officer, General Counsel of Covenant Transportation Group Inc. Prior to joining the Company, Mr. Heartfield was an attorney with the law firm of Chambliss, Bahner & Stophel, P.C., from 1989 to 1997 and the law firm of Heartfield & Duggins, P.C., from 1997 to 2009.

Ralph Lovin

Mr. Ralph Harrison Lovin, Jr. is the Executive Vice President, Corporate Secretary of Covenant Transportation Group Inc. Mr. Lovin has served in several senior management positions since joining us in 1986. Mr. Lovin has been our Executive Vice President and the Executive Vice President of Administration of CTI since May 2007 and Corporate Secretary since August 1995. Previously, Mr. Lovin served as our Vice President–Administration from May 1994 to February 2003, Senior Vice President – Administration from February 2003 to May 2007, CFO from 1986 to 1994, and as one of our directors from May 1994 to May 2003.

James Brower

Mr. James F. Brower, Jr. is the Executive Vice President; Chief Operating Officer of Star Transportation, Inc of Covenant Transportation Group Inc. From 1983 to February 2016 Mr. Brower served as President of Star. Star joined the Company as one of our subsidiaries in 2006.

William Cartright

Mr. William “Billy” J. Cartright is the Executive Vice President and COO of SRT since July 2017 of Covenant Transportation Group Inc. Mr. Cartright served as Vice President of Administration of SRT from November 2016 to July 2017. Prior to joining the Company, Mr. Cartright served as Sr. Vice President of Operations and Vice President of Safety and Recruiting from 2015-2016 at USA Truck, Inc. (NASDAQ: USAK) and Senior Director of Operations from 2013-2015 at Conway Truckload, Inc. a freight transportation provider operating in the United States, Canada, and Mexico.

Samuel Hough

Mr. Samuel F. Hough is the Executive Vice President and Chief operating officer of Covenant Transport Solutions, Inc., a subsidiary of Covenant Transportation Group Inc. Prior to joining the Company, Mr. Hough served as Vice President of Sales from 2010 -2013, Vice President of Regional Operations from 2009 - 2010, and Vice President of Revenue Management from 2006 - 2009 for Conway Truckload, a freight transportation provider operating in the United States, Canada, and Mexico.

Paul Newbourne

Mr. Paul T. Newbourne is the Executive Vice President; Chief Operating Officer of Solutions of Covenant Transportation Group Inc. Prior to joining the Company, Mr. Newbourne was President of Logistics Project Consulting, LLC, a supply chain consulting firm, from August 2016 to October 2016. Mr. Newbourne also served as Senior Vice President – Operations of Armada Supply Chain Solutions, LLC, a privately held third party logistics company from April 2006 to July 2016.

M. Paul Bunn

Mr. M. Paul Bunn is the Chief Accounting Officer, Treasurer of Covenant Transportation Group Inc. Previously, Mr. Bunn served as our Corporate Controller from July 2009 to January 2012. Prior to that, Mr. Bunn served as an Audit Senior Manager for Ernst & Young, LLP, a global professional services provider. Mr. Bunn is registered as a Certified Public Accountant with the State of Tennessee.

T. Ryan Rogers

Mr. T. Ryan Rogers is the Chief Transformation Officer at CTI since January 2018. Prior to joining CTI, Mr. Rogers worked as a Supply Chain & Transportation Executive at Amazon.com, Inc. (NASDAQ: AMZN), an e-commerce company, in 2017 and as Chief Operating Officer of U.S. Xpress Logistics, a division of U.S. Xpress Enterprises, Inc., a freight transportation provider from 2012 to 2015. Mr. Rogers has also served as a Mentor at Dynamo Accelerator and Fund, a logistics, supply chain, and transportation accelerator program and early stage fund, since 2016, and as a Strategic Advisor for Trucker Path, a Silicon Valley-based transportation navigation technology company, since 2015.

Herbert Schmidt

Mr. Herbert J. Schmidt is the Director of Covenant Transportation Group Inc. Mr. Independent Director of the Company. He served as a member of our Nominating Committee, and prior to July 2016 served as a member of our Compensation Committee. Mr. Schmidt previously served as the Executive Vice President of Con-way Inc. and President of Con-way Truckload, both freight transportation providers, from 2007 until his retirement in 2012. Prior to the merger of Contract Freighters, Inc. ("CFI"), another freight transportation provider, with Con-way Inc. in 2007, Mr. Schmidt held positions at CFI as President and CEO from 2005 to 2007 and President from 2000 to 2005. Prior to his becoming President and CEO in 2005, he was employed in a series of progressively more responsible positions at CFI where he gained extensive knowledge in risk management, as well as leading the sales and operations functions as Senior Vice President of Operations. Mr. Schmidt has also served as a member of the Board of Directors of Empire District Electric Company (NYSE: EDE) since April 2010, including membership on the Compensation, Executive, and Strategic Projects Committees, and as a member of the Board of Directors of Daylight Transport, LLC, a privately held less-than-truckload carrier, since September 2013, including membership on the Compensation and M&A Committees.

William Alt

Mr. William Thomas Alt is an Independent Director of Covenant Transportation Group Inc. Mr. Alt currently serves as Chair of our Nominating Committee and as a member of the Audit Committee. Mr. Alt holds degrees in engineering and law. He has engaged in the private practice of law since 1962 and served as the President of the professional corporation for which he has practiced, William T. Alt., P.C., where he also was responsible for compensation decisions. Mr. Alt has supervised as many as twelve attorneys engaged in litigation and securities work for brokers, private companies going public, and SEC reporting companies. In addition, Mr. Alt has served as a trial attorney in various commercial matters. Mr. Alt also has experience advising companies, including other interstate trucking companies, in public offerings, stock exchange listings, SEC reporting, accounting issues concerning public companies, and various other commercial matters. Mr. Alt served as outside counsel to the Company from 1986 to 2003, has served as legal counsel for other multistate trucking firms, and has gained an in-depth understanding of the risks facing the Company and the transportation industry. The Board believes Mr. Alt's legal experience and familiarity with securities laws and the transportation industry qualify Mr. Alt to serve on the Board and benefit the Company. Specifically, the Board believes Mr. Alt's legal background allows Mr. Alt to advise the Board regarding best practices and strategies to help inform the Board's decision-making, particularly in the area of risk assessment. Additionally, the Board believes Mr. Alt's past leadership positions and executive experience qualifies Mr. Alt to serve in his current capacity as the Chair of the Nominating Committee. The Board believes Mr. Alt's knowledge of accounting issues concerning public companies adds significant value to our Audit Committee.

Robert Bosworth

Mr. Robert E. Bosworth is an Independent Director of Covenant Transportation Group Inc. Mr. Bosworth currently serves as Chair of our Audit Committee and Chair of our Compensation Committee. Mr. Bosworth served as a director of Chattem, Inc., a consumer products company from 1986 to 2010 and served on its Audit Committee from 1998 to 2005 and on its Compensation Committee from 2002 to 2005. From September 2005 until his retirement in July 2012, Mr. Bosworth served as the President and Chief Operating Officer ("COO") of Chattem, Inc. Mr. Bosworth has also held directorships with several for-profit and non-profit organizations, as well as served as Vice President of Hamico, Inc. Mr. Bosworth holds an M.B.A. in finance. The Board believes Mr. Bosworth's services on the Chattem, Inc. board and on the boards of several other organizations have provided him with significant insight into board processes, functions, exercise of diligence, and oversight of management, and this knowledge benefits the Board. The Board also believes Mr. Bosworth's financial background, including his experience handling all financial functions of Chattem, Inc. and his familiarity and experience with applicable laws and regulations governing the preparation of financial statements filed with the SEC from when Chattem, Inc. was publicly traded, adds value to the Company's Audit Committee and Board. The Board believes Mr. Bosworth's extensive executive, director, business, and financial reporting experience make him highly qualified to serve as a director and as Chair of the Audit Committee. The Board also believes Mr. Bosworth's knowledge of executive compensation practices qualifies him to serve as Chair of our Compensation Committee.

Bradley Moline

Mr. Bradley A. Moline is an Independent Director of Covenant Transportation Group Inc. Mr. Moline currently serves as a member of our Audit Committee and Nominating Committee. Mr. Moline has been President and CEO of ALLO Communications, LLC, a telecommunications company and majority owned subsidiary of Nelnet, Inc. (NYSE:NNI), since October 2002. He also serves on the board of directors of ALLO Communications, LLC. Mr. Moline also has been the owner, President, and CEO of Imperial Super Foods, a grocery store in Imperial, Nebraska, since February 2002 and NECO Grocery, with grocery operations in Colorado, since March 2006. From 1994 to 1997, Mr. Moline was our Treasurer and CFO. Mr. Moline also served as CFO of Birch Telecom Inc., a telecommunications company, when the company's debt securities were publicly traded and previously worked for Ernst & Young, where he was formerly licensed as a CPA. In his roles with the Company, Birch Telecom, and Ernst & Young, Mr. Moline gained experience overseeing financial matters and reviewing documents filed with the SEC. The Board believes Mr. Moline's extensive financial and executive experience add significant value to our Audit Committee and make Mr. Moline a valued member of our Board. The Board also believes Mr. Moline's wide array of executive experiences, including from his service as the Company's CFO, has prepared him well to respond to complex financial and operational challenges. The Board further believes that Mr. Moline’s experience as an executive officer of a public company and a company with publicly traded debt allows him to bring unique and valuable perspective to governance issues as a member of our Nominating Committee.

W. Miller Welborn

Mr. W. Miller Welborn is the Independent Director of Covenant Transportation Group Inc, since 2017. Mr. Welborn is currently serves as a member of our Audit Committee and Compensation Committee. Mr. Welborn has been Chairman of SmartFinancial, Inc. (NASDAQ: SMBK), a publicly traded holding company of SmartBank with over $1.6 billion in assets since 2015. From 2009 to 2015 Mr. Welborn served as Chairman of Cornerstone Bancshares, Inc., which was the publicly traded parent company of Cornerstone Community Bank prior to the bank’s merger with SmartBank in 2015, where he served on the Asset-Liability (ALCO), Loan, Governance, Nominating, Audit, and Compensation Committees. Mr. Welborn has also served as President of Welborn & Associates, Inc., a consulting firm specializing in transportation logistics, since 2000. He previously served as managing partner of Transport Capital Partners, LLC, another transportation advisory and consulting firm that he founded, from 2001 to 2014. Prior to founding Transport Capital Partners, LLC, Mr. Welborn served in several executive and ownership capacities of various trucking companies, including as President, CEO, and a director of Boyd Bros Transportation, President and Chairman of Welborn Transport, Inc., a company he cofounded, and President of Cummings Trucking Co., Inc. From 2010 to 2015 Mr. Welborn served as a partner of Lamp Post Group, Inc., a venture capital company with a portfolio of investments ranging from start-up level to over $600 million in annual revenue. Mr. Welborn currently serves on multiple non-profit boards. The Board believes that Mr. Welborn’s over three decades of business experience, including experience in transportation consulting, executive roles at trucking companies, and serving on the boards of publicly traded companies, provides us with invaluable perspective and experience.

Basic Compensation