Jonathan Sisler, who had been with digital brokerage Coyote Logistics since 2008 and CEO since July 2018, is out as the head of the company. His replacement is Sandeep Pisipati, the company’s current chief financial officer.
Coyote’s news release Tuesday said Sisler had made a “decision to pursue other opportunities.”
“Sandeep has been with Coyote for five years and has been an integral leader with a track record of delivering strong business results through a unique approach to corporate strategy, financial management and people leadership,” the company said in its statement announcing Sisler’s departure, though it was the appointment of Pisipati that got the headline on the release.
“It’s been an honor to lead this business and all the incredible people,” Sisler said in the statement. “My time with Coyote has been transformative and I’m proud of all that we’ve been able to accomplish over the years. While difficult, this is the right decision at the right time, and I’m confident Sandeep’s well-rounded approach and vision will guide the company through an exciting new phase.”
Coyote, a subsidiary of UPS (NYSE: UPS), has had at least three rounds of layoffs this year. One was as recent as Sept. 1 that reduced head count by an unspecified number of workers. About 200 workers were let go in February. More layoffs came in May.
In the news release, Pisipati said Coyote is “in an incredibly privileged position in this industry with our talent, relationship with UPS and network of shippers and carriers. This is what attracted me to Coyote in 2018 and remains the driving force behind my passion for the business and vision for the future.”
He offered his “sincere gratitude to Jonathan for his contributions and leadership.”
Before he was at Coyote, Pisipati was vice president of finance and accounting at Stericycle (NASDAQ: SRCL), a health care services provider.
The release also included a statement from Bill Seward, president of UPS Supply Chain Solutions, of which Coyote is a component.
“I’ve had the opportunity to work closely with Sandeep and believe in his strategic vision for the future of Coyote,” Seward said. “I look forward to working with him and the entire Coyote leadership team as we collaborate even further to deliver what matters.”
Sisler departs Coyote in a market that has seen tough times for numerous brokerages, with layoffs a norm this year. The year also kicked off with the ouster of Bob Biesterfeld as the CEO of C.H. Robinson (NASDAQ: CHRW). His successor, Dave Bozeman, has talked about the prospect of further reduction in staff at the big publicly traded brokerage in his few public appearances since he took the reins in late June.
A spokesman for Coyote said Pisipati would not be made immediately available to answer further questions.
More articles by John Kingston
Diesel fuel’s surcharge benchmark is up even as futures suddenly drops
Two separate looks at GXO, two positive analyses
Flat sequential performance at 3PL RXO leaves Wall Street unimpressed