Online truck brokerage Convoy announced today that it had gone outside the fast-growing digital freight network sector to pick its new president and chief operating officer (COO), naming the top executive from the online travel website Expedia.
Seattle-based Convoy said that Mark Okerstrom will take on the newly created role of president and COO beginning August 31, with direct oversight of Convoy’s finance, operations, sales, marketing, supply, and marketplace growth teams. Okerstrom was most recently the president and CEO of Expedia Group Inc., after holding executive roles there, and was previously with the consultancy Bain & Company, UBS Investment Bank, and the law firm Freshfield Bruckhaus Deringer.
In a statement, Convoy Founder and CEO Dan Lewis said that Okerstrom would now bring his expertise in scaling large digital marketplaces to Convoy’s leadership team. Before adding the president and COO position, all of Convoy’s executives had reported into the CEO’s office, but Lewis and Okerstrom will now partner on that task.
“The trucking industry forms the backbone of the U.S. economy, and Mark’s arrival comes at a critical time as Convoy’s growth continues to support thousands of businesses and small trucking companies nationwide, delivering essential goods and tackling problems of waste and inefficiency,” Lewis said. “Mark’s experience building industry-transforming businesses will help Convoy deliver the transportation network of the future and achieve our mission of endless capacity and zero waste.”
Venture-backed Convoy has used its considerable coffers and artificial intelligence (AI)-based freight matching technology to hold a strong position in the digital freight matching (DFM) sector, even as new entrants seem to join the field every month and established transportation technology and brokerage firms pick certain players for deals and integrations.