EULESS, Texas,March 5, 2020 -- U.S. Concrete, Inc.(NASDAQ: USCR) ("U.S. Concrete" or the "Company") announced today that its Board of Directors ("Board") has nominated Rajan C. Penkar for election to join the Company's Board of Directors. The election will take place at the Company's annual meeting of stockholders in May 2020.
"Mr. Penkar's extensive experience in logistics and sourcing brings a unique set of qualities to the Company's Board and I believe he will help further drive shareholder value, if elected," said U.S. Concrete Lead Independent Director of the Board, Michael D. Lundin. "Raj's diverse background in technology and e-commerce will support the Company's major investment in and strategic focus on innovation through its suite of dispatching and cloud-based apps, including Where's My Concrete?®. His experience in all aspects of the supply chain including global sourcing, retail and e-commerce distribution and fulfillment, global transportation, and inventory management will enhance the Company's operations and deliveries, further building the value-proposition."
Mr. Penkar has served as president and founder of Supply Chain Advisory Services, LLC, which provides e-commerce and omni-channel supply chain design and optimization services to retailers, since 2014. From 2011 to 2014, Mr. Penkar served as senior vice president and president, supply chain for Sears Holding Corporation, an integrated retailer. Before Sears, Mr. Penkar held various positions of increasing responsibility with United Parcel Service, Inc., or UPS, from 1987 to 2011, most recently serving as president, UPS Customer Solutions. Customer engagements covered broad, multi-geography supply chain solutions in small package, contract logistics, forwarding, freight, and service parts logistics. Previously, Mr. Penkar served as a senior member - technical staff at Unimation, a robotics company, and Electronic Associates, Inc., a developer of power plant simulators and manufacturer of analog computers. Mr. Penkar holds a MS in mechanical engineering from Syracuse University, and a BTech in mechanical engineering from the Indian Institute of Technology, Bombay. Mr. Penkar is the recipient of 14 patents in robotics, automation, and supply chain processes.