Investor names new CEO as logistics operator plans new growth

An Indianapolis holding company says it will keep the chairman of OIA Global Logistics in place after buying a majority stake in the company, but LDI named a new CEO to run the business.

Privately held LDI, which owns a range of industrial companies, bought Portland, ore.-based OIA and its freight forwarding business this month for an undisclosed sum.

OIA founder Junki Yoshida said in a statement that LDI’s investment “gives us greater resources to grow with our customers.”

Yoshida will remain as chairman and LDI named logistics industry veteran Charles Hornecker chief executive of OIA. Hornecker is a former president of Market Industries, an oregon-based freight broker that was acquired by UTi Worldwide in 2006.

OIA’s business runs from freight forwarding to supply chain management and contract logistics, and the company counts Fortune 500 companies as customers.

Source: JOC