ArrowStream turns a page, names new CEO
July 12th, 2017
There’s a new chapter in the turbulent story of ArrowStream, the Chicago logistics software company that counts top restaurants as clients.
Mitch Rader, a top executive at Lineage Logistics cold-storage provider, has been named CEO. He previously was CEO and chairman of Consolidated Distribution Corp.
Rader replaces Frank Morgiewicz, who will be joining ArrowStream’s board of directors.
Morgiewicz, as you may recall, was an ArrowStream executive who was forced into the CEO job after company founder Steven LaVoie was shot and killed by a disgruntled employee in his Loop office in 2014.
After the shooting, the company struggled to hold on to clients.
Perseverance and Morgiewicz’s dedication to the company paid off.
Earlier this year, ArrowStream was purchased by Diversis Capital, a Los Angeles private equity firm, for an undisclosed price. It allowed early investors in ArrowStream to cash out.
Now comes a new chapter for ArrowStream.
“I am delighted to be joining ArrowStream as its CEO,” Rader said in a release announcing his appointment. “Frank and the team have done an excellent job establishing a strong foundation to build upon. I am very excited to lead ArrowStream into this next chapter of its evolution.”
ArrowStream focuses on supply-chain innovation for restaurants, including Panda Express, Jamba Juice, Steak ‘n Shake and Popeyes.
“We are thrilled to have Mitch join ArrowStream as its new CEO,” said Dave Muscatel, an operating partner with Diversis and member of ArrowStream’s board of directors. “We were looking for a CEO with a strong pedigree in foodservice, logistics, and technology, and Mitch brings a unique blend of all three to the table. Diversis plans to invest heavily in ArrowStream’s platform, and we are confident that with Mitch we found the right person to spearhead these growth initiatives and lead the company forward.”