Platinum Seeks CEO for Former Aether Transport Unit

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latinum Equity said last week it would rename the transportation-information unit it bought from Aether Systems Inc. to GeoLogic Solutions Inc., and was searching for a new chief executive officer to run the unit.

latinum Equity said GeoLogic would become profitable in 2005.

Platinum Equity Senior Vice President Ross Young, who is GeoLogic’s acting CEO, said Aether’s transportation unit had not been profitable. However, he said Platinum had a goal of turning it around and increasing revenues by 20% in 2005.

“Right away our goal is to get the business stabilized. The business wasn’t making money, but it was not systemically broken,” Young said. “It had challenges, but nothing we couldn’t fix. We have a profit projection for 2005.”

For the full story, see the Nov. 15 edition of Transport Topics. Subscribe today.

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