NEW YORK, Oct. 26 /PRNewswire-FirstCall/ -- Clark Holdings Inc. ("Clark") (NYSE AMEX: GLA) today announced that Tim Teagan has decided to resign from his position as President & CEO of The Clark Group, effective November 6, 2009. In connection with his departure, Mr. Teagan also resigned from the Board of Directors of The Clark Group and Clark Holdings Inc. Immediately following his resignation, Mr. Teagan will be retained as a consultant to The Clark Group through January 2012. In this role, he will continue to advise the Clark management team on numerous operational and customer specific issues. Skip Fischer, who most recently served as President & COO of Clark Domestic Companies, has been promoted to President & CEO of The Clark Group. Mr. Fischer has numerous years of industry experience, and has served The Clark Group with distinction for close to four years. Speaking on behalf of the entire Board of Directors, Gregory Burns stated, "We would like to thank Tm for his many significant contributions to Clark during his 37 year tenure including his dedication to building an experienced and highly capable senior management team. Skip has spent the last four years working very closely with Tim in preparation for this transition and the Board of Directors has the utmost faith in his abilities. We are confident that Skip's vast industry knowledge, commitment and enthusiasm make him the ideal choice to build upon Clark Group's customer-first legacy and lead the company as it executes its strategy to accelerate its growth profile and deliver increasing returns to shareholders." Clark Holdings also announced a change in management reporting responsibilities, in line with the new management changes. Skip Fischer, will become President and CEO of Clark Group Inc, and will have responsibility of all domestic operations and support functions and will report to the Board of Directors of Clark Group Inc. as will Mark Kummer, President of Clark's new truck brokerage subsidiary, Clark Cubed. Brian Gillen, President and COO of Clark Worldwide, has been promoted to President and CEO of Clark Worldwide and will report directly to the Board of Directors of Clark Worldwide Inc. About Clark Over its 30-year history, Clark has built a position as the leading independent provider of value-added distribution, transportation management, and international air and ocean freight forwarding services to the print media industry. This press release may contain certain forward-looking statements including statements with regard to the future performance of Clark Holdings Inc. Words such as "believes," "expects," "projects," and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements inherently involve certain risks and uncertainties that are detailed in Clark Holdings Inc.'s filings with the Securities and Exchange Commission. Clark Holdings Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. DATASOURCE: Clark Holdings Inc. CONTACT: Gregory Burns, Clark Holdings Inc., +1-646-495-5094

Copyright