Management shake-up at American Commercial Lines
- By WorkBoat
JEFFERSONVILLE, Ind. - American Commercial Lines announced this week the appointments of Mark Knoy as president and CEO and David Huls as senior VP and CFO.
Knoy, 52, is joining ACL following a 17-year career at AEP River Operations, a subsidiary of American Electric Power Co., Inc., where he spent the last 10 years serving as president. (Knoy is succeeded at AEP by Keith Darling.) Under Knoy's leadership, according to a press release, AEP River Operations grew to become one of the nation's largest and most successful barge lines.
Louis Samson, who led the acquisition of ACL for Platinum Equity in December of 2010, commented in a statement: "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, in a statement. "Throughout his career he has demonstrated the ability to lead organizations to very high levels of financial and operational performance."
Under 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, according to supplied information.
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.
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."
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.
Knoy will succeed Mike Ryan who stepped down from his president and CEO position last week. Paul Bridwell, chief restructuring officer, will act as interim CEO until Knoy begins on August 18, 2011.
Huls, 45, will be joining ACL as senior VP and CFO after having served as president and CFO at PBH Marine Group, LLC, a company also owned by Platinum Equity.
"David is a seasoned executive with a strong financial background and a deep understanding of business operations," said Kelln, in a statement. 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."