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NASHVILLE, Tenn. — Dave Chesterman, vice president of recruiting for Celadon Group Inc., was named Transport Topics’ Recruiting Professional of the Year at the 2018 Recruitment & Retention Conference Feb. 23.

Celadon Group continued its efforts to remake the company, updating its CelaTrac freight-tracking software and redesigning its corporate website.

Celadon Group has again received an extension on its revolving credit line from a group of lenders led by Bank of America.

Celadon Group took another step to reshape its management ranks with the hiring of Thom Albrecht as executive vice president and chief financial and strategy officer, promoting Chase Welsh to executive vice president of risk management and general counsel and adding Kathleen Ross, an experienced commercial banker, to serve as an independent member of its board of directors.

Celadon Group Inc. offered new information into its financial situation while confirming it is under a Securities and Exchange Commission investigation into the value of used trucks donated to a joint venture company.

Celadon Group is getting out of the flatbed business, striking a deal to sell all of the assets of its flatbed division to PS Logistics in Birmingham, Ala., company officials announced Sept. 18.

Paul Will, a 24-year executive with truckload carrier Celadon Group Inc., will be replaced as chairman and CEO on July 24.

The truckload industry continued to struggle in the second quarter and earnings are expected to be down year-over-year for most carriers, based on forecasts from industry analysts and interviews with several fleets.

Celadon will record a goodwill impairment charge up to $62.4 million before taxes as part of a review into the company’s value after questions arose about how it valued used trucks transferred to a joint venture last year.