Morgan Group Announces Leadership Changes and Expansion Plans

Strategic Insights -

The Morgan Group, Inc. has announced a series of leadership changes and expansion plans, marking a significant shift in the company's strategy. Paul D. Borghesani, a long-time affiliate of the company, has been named Chairman and Chief Executive Officer of Morgan Drive Away, Inc. (MDA), effective immediately. Borghesani succeeds Philip J. Ringo, who is leaving to head a privately owned transportation company. The company has also announced several other management changes, including the appointment of Joseph G. Opferman as President of the Group and the promotion of Edward Charleston to President of the Manufactured Housing Group.

Key Takeaways:

  • Paul D. Borghesani has been named Chairman and Chief Executive Officer of MDA, a position he has been preparing for since 1983.
  • Joseph G. Opferman has been appointed President of the Group, and will oversee the growth of TDI, Inc., a market leader in the outsourcing service business, acquired by Morgan last month.
  • Edward Charleston has been promoted to President of the Manufactured Housing Group, overseeing the rapid growth of Morgan's operations in this segment.
  • Edwin C. Riehl has been named Senior Vice President, Safety and Risk Management, to further improve Morgan's safety and claims experience.
  • The Morgan Group has established a national network of approximately 1,800 independent owner-operators and 1,000 part-time drive-away employees in 108 offices across 36 states.
  • The company provides services to major companies, including Fleetwood Enterprises, Cavalier Homes, Oakwood Homes, Thor Industries, Winnebago Industries, and Skyline Corp.

Statistics:

  • Morgan Drive Away, Inc. has approximately 1,800 independent owner-operators and 1,000 part-time drive-away employees.
  • The company has 108 offices in 36 states through its national network.
  • Morgan matches drivers with shipments from customers, serving major companies in the manufactured housing and recreational and commercial vehicle industries.
  • The company provides certain insurance and finance services to its owner-operators through its wholly owned subsidiaries, Interstate Indemnity and Morgan Finance.

Sources:

  • PRNewswire, "The Morgan Group, Inc. Announces Leadership Changes and Expansion Plans" (June 8, 1995)
  • The Morgan Group, Inc. (source not explicitly provided in text; cited as per original format)