Rand Logistics Streamlines Organizational Structure, Lawrence Levy Vacates Vice Chair Position Effective August 21
Rand Logistics, Inc. (Nasdaq: RLOG) ("Rand") announced today that Laurence S. Levy, Executive Vice Chairman of the Company and a member of Rand's board of directors, has resigned from his position as Executive Vice Chairman, effective August 21, 2015. Mr. Levy will remain a director of the Company.
Mr. Levy's resignation follows discussions with Rand's board of directors in which the parties determined it was in the Company's best interests to eliminate the position of Executive Vice Chairman. Mr. Levy's executive officer responsibilities will be transitioned to other senior executives of the Company prior to the effective date of Mr. Levy's resignation.
"The board thanks Mr. Levy for his years of service as an executive of the Company," commented Michael Lundin, Rand's Non-Executive Chairman. "As a founder of Rand and a senior executive, Laurence has been a key contributor to the Company's growth and positioning as a market leader. We look forward to Laurence's ongoing contributions as a director of the Company."
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