UTi CFO Samuels stepping down from position
LONG BEACH, Calif. (AP) — UTi Worldwide Inc. says that Chief Financial Officer Lawrence Samuels is stepping down from his post next month.
The company, which provides supply chain services such as freight forwarding, said Monday that Samuels will be succeeded by Richard Rodick on Oct. 1. Rodick will also serve as executive vice president of finance.
Rodick currently serves as senior vice president of finance for Broadridge Financial Solutions.
Samuels is expected to help Rodick with the transition process.
Last week UTi reported that its net income fell 17 percent in the fiscal second quarter as a weak economy hurt demand for freight services.
Its shares finished at $13.99 last week. Its shares have fallen 22 percent from a 52-week high of $17.92 in late March.