In a surprise move, transportation firm ArcBest Corp. announced on Wednesday a reorganization that included the abrupt departures of the founder and CEO of MoLo Solutions Inc., a 6-year-old truckload brokerage business that ArcBest acquired in November 2021 for an upfront $235 million cash payment and an earn-out figure that could have pushed the total to $450 million had MoLo met specific performance criteria between 2023 and 2025.
Fort Smith, Arkansas-based ArcBest (NASDAQ: ARCB) announced...
https://www.freightwaves.com/news/arcbest-fires-top-2-truckload-brokerage-execs-in-surprise-move