Covenant Transportation Group Realigns Executive Team to Accelerate Execution of Strategic Plan - Seite 2

“Our realigned executive structure will capitalize on the strengths of each member and magnify the effectiveness of the entire team. John Tweed’s expertise in contract logistics is fundamental to Covenant’s future as we continue to become more deeply embedded in our customers’ supply chains and seek organizational efficiency. We have benefitted from John’s presence over the past two years as the Landair operations have been a stable and highly profitable performer. Importantly, Joey Hogan’s financial acumen and strategic thinking will be concentrated on improving all administrative functions, including organizational development, our technology future, financial and strategic planning, and furthering our culture. Paul Bunn’s ability to integrate financial and business planning is a strong complement to John’s skill set and managing through a changing business mix. And Richard Cribbs will continue to deliver a strong capital markets, risk management, and strategic presence as we de-leverage our balance sheet and improve our return on capital. I’m confident we have the team to drive Covenant forward and look forward to reporting the progress on our plan as we take this opportunity to strengthen and re-energize the enterprise during the current economic environment and return to normal operations with a brighter future.”

Executive Bios

John A. Tweed, 54, was appointed Co-President and Chief Operating Officer in April 2020. Mr. Tweed joined the Company in July 2018 following our acquisition of Landair Holdings Inc. (“Landair”) and previously was the EVP and COO of Landair. Prior to the Company’s acquisition of Landair (the “Landair Acquisition”), Mr. Tweed served as the CEO of Landair since 2000. Prior to becoming CEO of Landair, Mr. Tweed held various positions at Landair, including vice president of sales and special-projects manager. Mr. Tweed is an active committee and board member for several industry associations and community organizations.

Joey B. Hogan, 58, was appointed Co-President and Chief Administrative Officer in April 2020. Previously, Mr. Hogan served as our President and Chief Operating Officer from February 2016 to April 2020. From May 2007 to February 2016 Mr. Hogan served as our Senior Executive Vice President and COO, as well as President of CTI. Mr. Hogan was our CFO from 1997 to May 2007, our Executive Vice President from May 2003 to May 2007, and a Senior Vice President from December 2001 to May 2003. From joining us in August 1997 through December 2001, Mr. Hogan served as our Treasurer. Mr. Hogan served as a director and on the Audit Committee of Chattem, Inc., a consumer products company, from April 2009 through March 2010, and currently serves as an officer of the Truckload Carriers Association.