C.H. Robinson Worldwide Inc. CHRW said Tuesday that Chief Executive Bob Biesterfeld had stepped down, effective Dec. 31, 2022, after about 3 1/2-years in the role. The freight transportation and logistics company said it named Chairman Scott Anderson as interim CEO, while it has retained executive search company Russell Reynolds to help initiate a search for a new permanent CEO. Biesterfeld was named CEO in May 2019, while Anderson has been chairman since 2020. The stock, which was little changed in premarket trading, had lost 14.9% in 2022, while the Dow Jones Transportation Average DJT had dropped 18.7% and the Dow Jones Industrial Average DJIA had declined 8.8%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.