FREIGHTWAVES’ Rachel Premack writes:

When C.H. Robinson (NASDAQ: CHRW) announced its next CEO was Ford executive Dave Bozeman, insiders likely had questions galore. The biggest, perhaps, was: How is he going to fix this company?  

On Monday, during a very rainy day in New York City, I met with Bozeman to answer just that. He spent 45 minutes answering my questions on how he’s going to reinvent the massive freight brokerage C.H. Robinson.

Robinson is in need of a turnaround plan. The freight brokerage failed to fully capitalize on the massive upcycle in freight in 2020 and 2021. Instead, Robinson appeared to just run up its costs. Robinson’s previous CEO, Bob Biesterfeld, had admitted that Robinson hired too much during the freight bubble of the early 2020s. When demand suddenly and precipitously declined in the spring of 2022, Robinson was caught with too many employees and too few loads to move. Analysts have also pointed out that, under Biesterfeld, Robinson invested massively in technology, with results that weren’t commensurate… 

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