APL Logistics President Jim McAdam will leave the company later this year to pursue outside opportunities, the company said in a statement Friday.
APL Logistics, a subsidiary of Singapore-based NOL and sister company to liner carrier APL, said a successor has not been named and McAdam will remain until one is found.
“Now is the appropriate time for me to step down and pursue new career objectives,” McAdam said in a statement. “Our business, and our organization, is well positioned to continue our rapid growth and achieve the long-term goals that we have set for APL Logistics.”
APL Logistics secured operating profits of $67 million on revenue of $1.6 billion in 2012, the company also announced Friday. The profits were down marginally year-on-year despite revenue rising 11 percent.
“Jim has been instrumental in building up the business to where it is today,” said NOL Group Chief Executive Officer Ng Yat Chung. “We thank him for his long and dedicated service to the company and wish him well as he pursues the next phase in his career. We will build upon Jim and his team’s success as we continue to grow our supply chain business.”
NOL noted its goal was to increase the share of contribution from its logistics business, which stood at 16 percent of the group revenue in 2012. - Eric Johnson