World Group's Joey Palmer and Duncan Wright move up as co-CEOs

US-based World Group, which owns a portfolio of logistics and supply chain brands, has appointed Joey Palmer (above) and Duncan Wright (below) as co-chief executives, replacing Fred Hunger, who becomes executive chairman,

Mr Hunger, son of Jack Hunger, founder of World Shipping before it transformed into World Group, said: “Stepping into the executive chairman role, I am ready, and excited to see Joey and Duncan take the lead.

“It is certainly unique, the co-CEO setup, but we have done our homework. Turns out, it works. Joey and Duncan are a great match – they complement each other’s strengths. It is the right move for our future, setting us up for greater success across our portfolio of brands,” Hunger stated.

World Group’s three main subsidiaries are: drayage operator ContainerPort Group (CPG), where Mr Palmer is CEO; NVOCC UWL; and warehousing specialist World Distribution Services (WDS), both of which are led by Mr Wright.

Mr Palmer said: “As we step into leadership roles within our parent company, Duncan and I are committed to keeping our focus on our brands’ strengths – CPG’s expertise in trucking, World Distribution Services’ warehousing and distribution capabilities and UWL’s NVOCC and freight forwarding excellence.”

Mr Wright added: “The decision to have co-CEOs reflects a strategic move to provide consistent leadership across World Group’s portfolio without merging our brands into a single entity.

“No one knows our people, products, and customers’ needs better than Joey and me, and we look forward to harnessing our combined leadership strengths to ensure our brands continue as market leaders within their respective part of the supply chain.”