Copyright 2006, Traffic World, Inc.
Celadon Group awarded its chairman and CEO Stephen Russell $1.28 million in bonuses, saying it exceeded fiscal 2006 financial targets.
The truckload carrier also awarded $531,532 each to its president, Thomas Glaser, and its chief financial officer, Paul A. Will, as well as smaller bonuses to other executives.
In a Securities and Exchange Commission filing, Indianapolis-based Celadon said the awards were based on achieving performance targets for the fiscal year ended June 30. The company said it performed at 150 percent of its pre-established earnings per share target.
Celadon earlier reported net income of $20.5 million for the fiscal year, 60 percent increase over the prior year. Revenue increased 9.9 percent to $480 million. Russell said the company was benefiting from steps taken four years ago to execute its strategic plan.