Barge giant American Commercial Lines Inc. (ACL) today reported the appointments of Mark Knoy as President and Chief Executive Officer and David Huls as Senior Vice President and Chief Financial Officer.
Industry veteran Mark Knoy, 52, is joining ACL following a seventeen year career at AEP River Operations, LLC, a subsidiary of American Electric Power Co., Inc., where he spent the last ten years serving as President. Under Mr. Knoy's leadership AEP River Operations grew from a captive subsidiary operating with relatively limited assets into a diversified industry leader with a fleet of 3,300 barges that transport over 80 million tons of commodities annually.
Louis Samson, who led the acquisition of ACL for Platinum Equity in December of 2010, commented: "We are excited to have Mark join the team and help write a new chapter in the history of ACL -- his track record speaks for itself."
"Mark brings to ACL many years of profitable growth on the inland waterways," said Bryan Kelln, President of Portfolio Operations at Platinum Equity. "Throughout his career he has demonstrated the ability to lead organizations to very high levels of financial and operational performance."
ACL operates a transportation fleet of more than 2,400 barges as well as the largest single-site inland shipbuilding and repair facility in the United States.
Mr. Knoy stated: "I'm honored to be taking the helm of a market leader with such a strong heritage and a deep portfolio of assets." He added: "Platinum is fully committed to ACL's success and I am excited to partner with them and with my new ACL teammates to help guide the company into the future -- it's a tremendous opportunity to create value."
Mr. Knoy is coming to ACL with a lifetime of experience in the marine transportation industry after starting in the industry over 30 years ago.
"We operate in a niche industry in which relationships are of paramount importance. I bring to ACL intimate industry knowledge and decade-long customer and vendor relationships. This business is in my blood and I know what it takes to succeed."
Mr. Knoy currently serves as a Director of the US Army Corps of Engineers' Inland Waterways Users Board; is on the Board of Trustees for the Coast Guard Foundation and The Seamen's Church Institute; serves as Vice Chairman of the National Waterways Foundation; is a board member for the H.T. Pott Inland Waterways Library at the University of Missouri - St. Louis; and is Treasurer of the Marine Transportation Council.
Mr. Knoy will succeed Mike Ryan who stepped down from his President and Chief Executive Officer position last week. Paul Bridwell, Chief Restructuring Officer, will act as Interim Chief Executive Officer until Mr. Knoy begins on August 18, 2011.
Mr. Samson said Mr. Ryan has been instrumental in positioning ACL for growth. "Mike successfully led ACL through an important and challenging period in the Company's evolution and we are very thankful for his important contributions," said Mr. Samson.
Mr. Huls, 45, will be joining ACL as Senior Vice President and Chief Financial Officer after having served as President and Chief Financial Officer at PBH Marine Group, LLC, als owned by Platinum Equity.o
"David is a seasoned executive with a strong financial background and a deep understanding of business operations," said Mr. Kelln. Mr. Samson added: "Having worked closely with David for over two years we know he is extremely capable and will be a strong asset to ACL's management team."
Brian McDonald, Interim Chief Financial Officer, will continue in that role until Mr. Huls begins on August 29, 2011.
August 1, 2011