ACBL Announces Peter Coxon As New CEO
American Commercial Barge Line (ACBL) announced the appointment of Peter Coxon as the company’s chief executive officer on November 19, effective immediately.
“This marks a significant step in ACBL’s transformative journey toward realizing its vision of being the trusted leader in marine transportation,” the company said in a press release.
“Over the last few years, ACBL has made important progress in a challenging market, laying the groundwork for future growth and strategic development,” the release continued. “With [Coxon’s] direction, the company is positioned to seize new opportunities and continue its upward trajectory.”
Most recently, Coxon served as CEO of Rand Logistics, a leading provider of bulk freight shipping and ship repair services throughout the Great Lakes region. While at Rand, Coxon led a successful turnaround, driving improved performance and synergies following Rand’s acquisition of American Steamship Company.
Coxon’s career includes senior leadership roles at organizations such as SEACOR Holdings Inc., the Atlantic Richfield Company (ARCO) and Par Petroleum (now Par Pacific). His leadership spans marine logistics and vessel construction, energy marketing and logistics, renewable fuels and refining and marketing.
Before his private sector career, Coxon served 13 years as a commissioned officer in the United States Coast Guard and Coast Guard Reserve. Coxon holds two master’s degrees from the Massachusetts Institute of Technology (MIT) and a Master of Business Administration in finance from the University of Southern California. He is a graduate of the United States Coast Guard Academy.
Coxon joined the ACBL board of directors earlier this year.
“His hands-on leadership style and industry expertise align perfectly with ACBL’s commitment to providing efficient, reliable and innovative marine transportation solutions,” the company said.
“We believe there is an incredible opportunity ahead for ACBL, and we’re excited to have Peter on board to help the company take full advantage,” said Al Stanley, chairman of the ACBL board of directors. “The board is confident that Peter will provide the leadership needed as we take the important next step in our journey forward.”
Stanley added, “Our heartfelt gratitude goes to Mike Ellis for his leadership over the past four years. Mike guided ACBL through a pivotal chapter of transformation, building a strong foundation for the future. We wish him all the best in his future endeavors.”
Comments From Ellis
ACBL named Ellis CEO in August 2020 following the company’s reemergence from bankruptcy earlier that year. After ACBL announced the leadership change to Coxon, The Waterways Journal spoke with former CEO Mike Ellis.
Reflecting on the past four years, Ellis said he is proud of ACBL’s accomplishments. The company is financially sound with a great team and an impactful culture, he said. Ellis attributed the culture change at ACBL under his watch to instilling core values focused on team members and mutual care.
“ACBL is now where people want to be, and I hope that will continue,” he said.
ACBL made some notable investments over the last four years, including the recent delivery of the mv. ACBL Mariner. Beyond fleet additions and maintenance, the company invested in shoreside infrastructure as well, with a new office in Paducah, Ky., scheduled to open this month.
According to Ellis, ACBL still has significant capital needs on the horizon, and he said the right capital structure will be important for the company’s long-term success and stability.
Ellis said he plans to continue to support the industry and mariner advocacy initiatives.
“I love the industry and ACBL,” Ellis said.
He plans to pursue opportunities to continue his passion in the maritime industry.
