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TRBR > SEC Filings for TRBR > Form 8-K on 2-Nov-2009All Recent SEC Filings

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Form 8-K for TRAILER BRIDGE INC


2-Nov-2009

Change in Directors or Principal Officers


ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

After the completion of a management and organization review commenced by the Company's Chief Executive Officer, and to better align responsibility and promote cost efficiency, the Company made certain management changes on November 2, 2009. These changes included the resignations of Ralph W. Heim, President and COO, and Robert van Dijk, Vice President of Pricing. Each has been offered a severance agreement by the Company. Their respective positions are not expected to be filled, as the Company will distribute their responsibilities among other officers.

Adam E. Gawrysh, Jr., whose new title is Vice President and Chief Commercial Officer, has worked for the Company for the past seventeen years and has most recently been responsible for Inland Operations. Prior to that, Mr. Gawrysh spent ten years in sales management with the Company. Effective immediately, his added responsibilities will include management of the sales and pricing functions. David A. Miskowiec has become General Manager, Commercial Accounts.

Although these changes are expected to result in reduced operating costs and more streamlined responsibility, the Company expects to incur an estimated one-time $500,000 charge during its fourth quarter and year ending December 31, 2009.

In connection with the assumption of additional duties, the Company has granted additional stock options to William G. Gotimer, Jr., Mark A. Tanner, Adam E. Gawrysh and J. Edward Morley.


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