UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 15, 2011
Vitran Corporation
(Exact name of registrant as specified in its charter)
| ONTARIO, CANADA | 001-32449 | 98-0358363 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
| 185 The West Mall, Suite 701, Toronto, Ontario, Canada | M9C 5L5 | |||
| (Address of principal executive offices) | (Zip Code) |
416-596-7664
Registrant's telephone number, including area code
Not Applicable
(Former name or former address, if changed since last report)
| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): |
||
| [ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| [ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| [ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| [ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 15, 2011, Vitran Corporation Inc. ("Vitran" or the "Company") announced that, effective September 29, 2011, the Company's Corporate Controller, Mr. Fayaz Suleman, will succeed Mr. Sean Washchuk as Vice President of Finance and Chief Financial Officer. Mr. Washchuk, who will remain with the Company until September 28, 2011, has accepted the position of Chief Financial Officer of a global company specializing in labeling solutions and specialty packaging. Mr. Suleman's Experience and Education Mr. Suleman, age 33, has been with Vitran for nine years, and has worked closely with Mr. Washchuk as Corporate Controller since December 2004. Mr. Suleman graduated from Wilfrid Laurier University with an Honors Degree in Business Administration, and gained his public accounting experience with KMPG LLP, where he obtained his designation as a Chartered Accountant (Canadian Institute of Chartered Accountants) in 2003. Mr. Suleman's Compensation Mr. Suleman is entitled to: Mr. Suleman is also entitled to participate in the Company's Deferred Share Unit Plan for Senior Executives, which is described in the Company's definitive proxy statement on Schedule 14A dated as of March 18, 2011 (as filed with the Securities and Exchange Commission on March 31, 2011). Mr. Suleman is not entitled to a payment as result of a termination without just cause or "Change of Control" pursuant to a written employment agreement. The Compensation Committee of the Company's Board of Directors is responsible for reviewing compensation paid to the Company's executive officers on an annual basis. No Family Relationships With Existing Directors or Executive Officers Mr. Suleman is not related to any existing director or executive officer of the Company, and the Company has neither nominated nor chosen any other person (whether related to Mr. Suleman or otherwise) to become a director or executive officer of the Company. No Related Party Transactions Mr. Suleman has not been party to any transaction with the Company since the beginning of the Company's last fiscal year, and is not party to any proposed transaction with the Company, involving an amount exceeding $120,000 and in which he had or will have a direct or indirect material interest.
Item 9.01. Financial Statements and Exhibits.
* Furnished herewith.
Exhibit No.
Description
99.1
News release dated September 15, 2011*
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Vitran Corporation |
||
|
Date: September 20, 2011 |
/s/ RICHARD GAETZ Richard Gaetz President and Chief Executive Officer |
EXHIBIT 99.1
TORONTO, Sept. 15, 2011 (GLOBE NEWSWIRE) -- Vitran Corporation Inc. (Nasdaq:VTNC) (TSX:VTN), a North American LTL transportation and supply chain firm, today announced that effective September 29, 2011, the Company's Corporate Controller Fayaz Suleman will succeed Vice President of Finance and Chief Financial Officer Sean Washchuk who has accepted the position of Chief Financial Officer of a global company specializing in labeling solutions and specialty packaging.
Mr. Suleman has been with Vitran for nine years and has worked closely with Sean as our Corporate Controller for the past seven years. Fayaz graduated from Wilfrid Laurier University with an Honors Degree in Business Administration, and gained his public accounting experience and CA designation at KPMG LLP.
Commenting on Mr. Suleman's appointment, Mr. Gaetz stated, "We are once again very fortunate to have such a capable individual internally who can seamlessly transition into the Chief Financial Officer position, as he has been a dedicated and valuable member of the Vitran finance team for the last nine years. I am extremely excited to work with Fayaz in the months and years ahead and would like to thank Sean for his contribution and wish him success in his new endeavors."
About Vitran Corporation Inc.
Vitran Corporation Inc. is a North American group of transportation companies offering less-than-truckload and supply chain services. To find out more about Vitran Corporation Inc. (Nasdaq:VTNC) (TSX:VTN), visit the website at www.vitran.com.
The Vitran Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7302
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward-looking statements may be generally identifiable by use of the words "believe", "anticipate", "intend", "estimate", "expect", "project", "may", "plans", "continue", "will", "focus", "should", "endeavor" or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements are based on current expectations and are naturally subject to uncertainty and changes in circumstances that may cause actual results to differ materially from those expressed or implied by such forward-looking statements.
Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Vitran's actual results, performance or achievements to differ materially from those projected in the forward-looking statements. Factors that may cause such differences include, but are not limited to, technological change, increases in fuel costs, regulatory changes, the general health of the economy, seasonal fluctuations, unanticipated changes in railroad capacities, exposure to credit risks, changes in labour relations and competitive factors. More detailed information about these and other factors is included in the annual MD&A on Form 10K under the heading "General Risks and Uncertainties." Many of these factors are beyond the Company's control; therefore, future events may vary
substantially from what the Company currently foresees. You should not place undue reliance on such forward-looking statements. Vitran Corporation Inc. does not assume the obligation to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
CONTACT: Richard Gaetz, President/CEO
Vitran Corporation Inc.
416/596-7664