Descartes Promotes Two Long-Time Executives to Top Management Jobs as CEO Retires
Descartes announces new top executives
WATERLOO, Ont. - Descartes Systems Group (TSX:DSG) says its long-time chief executive, Arthur Mesher, has retired as CEO and chairman of the board due to health and personal issues.
His successor as CEO, Edward Ryan, joined the logistics technology company in 2000 and has been its chief commercial officer since 2011.
Scott Pagan, who also joined Descartes in 2000, becomes chief operating officer and president.
The company, which operates a global logistics system used by freight carriers to improve their operational efficiency, also issued a preliminary look at its third-quarter results on Wednesday.
Descartes said it expects revenue for its fiscal third quarter ended Oct. 31 will be in a range of US$38.5 million to US$38.8 million. That would be up from US$32.7 million a year earlier.
It's also estimating income before income taxes being in the range of US$4.1 million to US$4.3 million, which includes recent restructuring and acquisition costs. Its adjusted EBITDA is estimated in the range of US$11.3 million to US$11. …