Chris Sultemeier joins ArcBest board as Craig Philip announces retirement

FORT SMITH, Ark. - ArcBest (NASDAQ:ARCB) announced Thursday that Chris Sultemeier has been appointed to its Board of Directors, effective October 29, 2025, while long-serving director Dr. Craig E. Philip will retire after the January 2026 board meeting. The logistics company, currently trading at a P/E ratio of 10.8 and considered undervalued according to InvestingPro analysis, has a market capitalization of $1.69 billion.

Sultemeier, who brings over 30 years of logistics and transportation experience, will serve on the compensation and nominating/corporate governance committees. He previously spent 28 years with Walmart, where he served as Executive Vice President of Logistics and as President and CEO of Walmart Transportation. Currently, he is an operating partner at NewRoad Capital Partners.

Philip has been a board member since 2011 and currently serves on the audit committee, having previously served on the compensation and nominating/corporate governance committees.

The company also announced that Eduardo Conrado, who joined the board in 2016, has been appointed lead independent director, succeeding Steve Spinner, whose retirement was previously announced.

"His impressive experience leading supply chain and logistics at Walmart, as well as his experience on multiple boards, brings valuable operational insight and industry perspective to our board," said Judy R. McReynolds, ArcBest chairman and CEO, referring to Sultemeier. The company has demonstrated commitment to shareholders, maintaining dividend payments for 23 consecutive years with a current yield of 0.66%.

Regarding Philip, McReynolds noted his contributions over fourteen years, highlighting his expertise in business, academia and innovation that helped guide ArcBest’s transformation into an integrated logistics company.

The board changes are part of ArcBest’s ongoing assessment of its board composition and skills balance, with additional updates expected in the coming months, according to the company’s press release statement. Investors watching these governance changes should note ArcBest will report its next quarterly earnings on November 5, 2025. InvestingPro identifies several additional insights about ArcBest’s financial health and valuation in its comprehensive Pro Research Report, available for subscribers among 1,400+ US equities covered.

In other recent news, ArcBest has declared a quarterly cash dividend of $0.12 per share, payable on November 28, 2025, to shareholders of record as of November 14, 2025. The company has also set ambitious financial targets for 2028, aiming for a non-GAAP diluted earnings per share of $12 to $15 and operating cash flow of $400 to $500 million. Additionally, ArcBest plans to achieve a return on capital employed of 16% to 19% by 2028, as part of its transformation into a technology-enabled logistics provider.

In analyst updates, Stifel raised its price target for ArcBest to $85, maintaining a Buy rating, despite challenges in the Less-than-Truckload sector. On the other hand, TD Cowen has lowered its price target for the company to $67, citing ongoing industrial weakness but retaining a Hold rating. Stifel also reiterated its Buy rating with a maintained price target of $81, noting the company’s potential despite a union-based valuation discount. These developments reflect ArcBest’s strategic focus and the varied analyst perspectives on its future performance.

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