August 05, 2013 at 11:35 AM EDT
Janel World Trade Ltd. Announces Executive Management Changes
JAMAICA, NY- ACCESSWIRE- 8/5/2013- Janel World Trade, Ltd. (OTCQB: JLWT), a full-service global provider of integrated transportation logistics, announced that effective August 15, 2013, James N. Jannello, its Founder will be stepping down from his position as Chief Executive Officer ("CEO"). William J. Lally the current President and Chief Operating Officer ("COO") who has been with the Company since 1975 will take over as President and CEO focusing primarily with returning the Company to profitability. Simultaneously, Vincent Iacopella, Managing Director since 2004 of the Company's California subsidiary, will assume the additional position of COO.
Mr. Iacopella is heavily involved in many industry leadership positions, including a seat on the13th Advisory Committee on Commercial Operations of Customs and Border Protection, better known as COAC. He will be tasked with concentrating on automation and efficiency of the Company's operations to further reduce costs, and implementing an aggressive sales and marketing plan for sales growth promoting the Company's core capabilities and services in customs clearance, freight services and customs compliance for importers and exporters.
The goal of the new management team is to position Janel as an industry leader in the sector, offering products and services designed to address traditional core services with an added focus on import and export compliance issues and web based data management tools.
Mr. Jannello has agreed to stay on as Executive Vice President and Director of the Company in order to assist with collections of accounts receivable and finalizing the future plans for the New Jersey branch office.
"On behalf of the Board and all of our employees, we wish to express our sincere appreciation to our founder, Jim Jannello, for all he has done over the years and his efforts and accomplishments" said William J. Lally, President and CEO-designate.
To be included in Janel's database for Corporate Press Releases and industry updates, investors are invited to send their e-mail address to: IR@janelgroup.net.
About Janel World Trade, Ltd.
Janel World Trade, Ltd. is a global provider of integrated logistics; including domestic and international freight forwarding via multi-modal carriers, leading-edge, end-to-end, supply-chain technology, customs brokerage, warehousing and distribution, and other transportation-related services. With offices throughout the U.S. (New York, New Jersey, Chicago, Los Angeles, and Atlanta) and a network of independent international agents in approximately 52 countries, the Company provides the comprehensive logistics services and technology necessary to handle its customers' shipping needs throughout the world. Cargo can be transported via air, sea or land, and Janel's national network of locations can manage the shipment and/or receipt of cargo into or out of any location in the United States. Janel is registered as an Ocean Transportation Intermediary and licensed as a FMC Licensed Freight Forwarder by the Federal Maritime Commission.
Janel World Trade, Ltd.'s headquarters is located in Jamaica, New York, adjacent to the JFK International Airport, and its common stock is listed on the OTCQB Bulletin Board under the symbol "JLWT". Additional information on the Company is available on its website at http://www.janelgroup.net/.
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "intend," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, the Company's dependence upon conditions in the air, ocean and land-based freight forwarding industry, the size and resources of many competitors, the need for the Company to effectively integrate acquired businesses and to successfully deliver its primary services, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission, including its most recent Form 8-K, Form 10-Q and Form 10-K filings. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
Janel World Trade
SOURCE: Janel World Trade, Ltd.
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