Clark hits out after Flexport exit
04 / 10 / 2023
Former Flexport chief executive Dave Clark has declared the company is “facing serious internal and industry challenges” following his sudden departure last month.
Clark, who previously spent more than 12 years working at Amazon, resigned from the chief executive role last month after just one year in service.
Flexport founder Ryan Petersen subsequently stepped back in to run the company.
In a post on X (formerly Twitter) on October 2, Clark said that “Flexport is facing serious internal and industry challenges that require serious leadership, and I sincerely hope they find a successful path.”
He added that he believed Flexport has extensive and multifaceted operational problems.
“When I joined Flexport as co-CEO in September 2022, I found a company lacking process and financial discipline, including numerous customer-facing issues that resulted in significant lost customers and a revenue forecasting model that was consistently providing overly optimistic outputs.
“The company had missed cost, margin, and revenue forecasts for multiple quarters prior to my arrival. My go-forward plan for Flexport, which was vetted by Ryan and presented to the Board, was focused on delivering growth and moving to align costs with revenue, not a revenue number based on hope – but one grounded in reality.”
Operating with integrity and treating colleagues with respect is critical to the success of any company, which, as a shareholder, makes today’s CNBC story and other recent reporting about Flexport deeply concerning. Despite my short tenure, I care about the company and its… https://t.co/42gg8aUAtH
— Dave Clark (@davehclark) October 2, 2023
A Flexport spokesperson told Air Cargo News: “Ryan Petersen returned as CEO in order to restore Flexport’s culture of customer engagement, and drive the growth and cost discipline required to return the company to profitability.
“Flexport has grown successfully for over a decade in different macro environments. We are getting back to growth mode by bringing on new customers and solving the problems of our current customers. We are in a great position to build new technology, service customers the right way, and grab more market share.”
When he previously announced his departure in a social media post on September 6, Clark said that Petersen had changed his mind on the company’s direction, while Petersen later said changes are needed within Flexport to sustain growth and return to profitability.
A day after Clark’s departure, the firm said it was rescinding job offers for more than 75 people after they were offered positions during a hiring freeze.
Later in September, Air Cargo News (ACN) reported that Flexport had apparently ousted its chief financial officer Kenneth Wagers.