TEN (Transportation Equipment Network) Appoints Nathan Smith as Interim Chief Executive Officer
DUBLIN, Ohio — TEN (Transportation Equipment Network), a leading trailer leasing company owned by I Squared Capital, a leading global infrastructure investor, today announced that Nathan Smith, TEN's Chief Operating Officer, has been appointed interim Chief Executive Officer, effective immediately.
Article content
Nathan Smith joined TEN in December 2024, bringing decades of leadership experience in the transportation and logistics industry. Prior to TEN, he spent much of his career at JB Hunt, where he held senior leadership roles including Senior Vice President of Equipment and Properties and Senior Vice President of Intermodal Operations.
Article content
In recent months, TEN has continued to strengthen its market leadership with the launch of TEN Ready, a disaster recovery initiative designed to deliver trailers in times of crisis; the upcoming introduction of an industry leading, patent pending customer solution at TEN Cool, and its geographic expansion into the Houston and Pacific Northwest markets through collaboration programs with industry recognized 'agent' partners. These strategic initiatives underscore TEN's commitment to innovation, customer service, and long-term growth.
Article content
Tom Donohue, Chairman, TEN, said: 'Nathan is a highly respected leader with a deep understanding of our business and industry. His operational expertise and steady leadership make him the right person to guide TEN through this transition and ensure we continue on our growth trajectory. The Board would like to thank Scott Nelson for his service and leadership, and we are grateful for his cooperation during this transition.'
Article content
Nathan Smith, Interim CEO, TEN, said: 'Our top priority is serving our customers with the reliability and excellence they expect from TEN. I am deeply committed to ensuring that our customers and our people remain well-supported as we continue to strengthen operations and empower our teams. It is an honor to step into the role of interim CEO at such an important time for TEN, and I look forward to building on the company's strong foundation and position as an industry leader.'
Article content
About TEN (Transportation Equipment Network)
Article content
Headquartered in Dublin, OH, TEN (Transportation Equipment Network) is the largest full-service trailer lessor in North America. With approximately 86,000 trailers, 1,000 employees, 249 service shop bays, 130 mobile service trucks, 300 mechanics, 100 road technicians, and nearly 50 locations across the United States and Canada, TEN is equipped to seamlessly serve customers across North America. TEN provides full-service leasing as well as maintenance, advanced technological solutions, consultation services, and other innovative offerings across numerous industry verticals. To learn more, visit https://tenleasing.com.
Article content
I Squared Capital is a leading global infrastructure investor managing $45 billion in assets. We build and scale essential infrastructure businesses that deliver critical services to millions of people worldwide. Our portfolio includes over 90 companies operating in more than 70 countries and spanning sectors such as energy, utilities, digital infrastructure, transport, environmental and social infrastructure. Headquartered in Miami, our team of over 300 professionals is based across offices in Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore, Sydney and Taipei. Learn more at www.isquaredcapital.com.
Article content
Article content
Article content
Article content
Contacts
Article content
Media Contacts:
Article content
TEN
Article content
Article content
Melanie March
Article content
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
National Post
30 minutes ago
- National Post
Backblaze Announces Executive & Director Stock Ownership Policy to Drive Long-Term Success
Article content SAN MATEO, Calif. — Backblaze, Inc. (Nasdaq: BLZE), the cloud storage innovator providing a modern alternative to traditional cloud providers, today announced the Company's Board of Directors has adopted a stock ownership policy to further reinforce its commitment in aligning the interests of company leadership with stockholders. Article content 'I believe the best way to serve our shareholders is by ensuring that those leading the company are owners themselves,' said Gleb Budman, Chairman of the Board and CEO. 'To strengthen this alignment with our shareholders, Backblaze is putting in place this new policy for directors and executives to hold a material amount of company equity. This commitment ensures our leadership is invested in the company's success. All covered individuals are expected to meet these levels within five years, in accordance with industry best practices.' Article content Under the new policy, directors and executives are required to maintain a personal investment in Backblaze through company equity ownership. Minimum ownership requirements are as follows: Article content Non-Employee Directors — Five times their annual cash retainer Chief Executive Officer (CEO) — Five times annual base salary Chief Financial Officer (CFO) — Three times annual base salary All Executives Reporting into the CEO — One times annual base salary Article content This policy deepens Backblaze's ongoing commitment to strong leadership alignment with shareholder interests and to fostering a long-term ownership mindset. Article content About Backblaze Article content Article content Article content Contacts Article content Investor Contact: Article content Article content Mimi Kong Article content Article content Article content
Globe and Mail
an hour ago
- Globe and Mail
RGTI Q2 Secures Funding Amid Weak Sales: Time to Buy, Hold or Sell?
Rigetti Computing's RGTI second-quarter 2025 results painted a picture of a company balancing short-term revenue challenges with long-term promise. Revenue came in at $1.8 million, down from $3.1 million in the prior year. Gross margin also narrowed to 31% from 64%, reflecting lower-margin government contracts. Even so, Rigetti strengthened its position by raising $350 million through an equity offering, ending the quarter with a healthy $571.6 million in cash and no debt. That financial cushion gives the company flexibility to continue investing aggressively in research and development while weathering near-term losses. On the innovation side, Rigetti continued to push boundaries. The company introduced Cepheus-1-36Q, the largest multichip quantum computer demonstrated to date, achieving a two-fold reduction in error rates compared with its earlier system. Management expressed confidence in delivering a 100-plus qubit chiplet-based system with 99.5% gate fidelity before year-end, underscoring its focus on scaling toward quantum advantage. While peers such as Arqit Quantum ARQQ, D-Wave Quantum QBTS, and Quantum Computing Inc. QUBT pursue alternative paths ranging from quantum encryption to annealing and software-first solutions, Rigetti's progress in superconducting qubits highlights a differentiated strategy aimed at building scalable, fault-tolerant hardware. For investors, the key will be monitoring Rigetti's ability to sustain this technical momentum, the reauthorizing of the National Quantum Initiative and the company's progress in converting its strong cash position into meaningful commercial traction over the next few years. RGTI Shares Price Performance Rigetti's shares have held up better than some quantum peers in the year-to-date period, even as the sector remains volatile. RGTI stock has gained 9.1% so far this year. Shares of QUBT and ARQQ have lost 7.4% and 15.2%, respectively. By contrast, QBTS has surged 102.5% over the same timeframe. The broader Zacks Internet - Software Industry has advanced 22.9%, showing that Rigetti continues to make steady progress while outpacing certain competitors. Let's delve deeper and determine the best course of action for your portfolio regarding the RGTI stock. Developments Propelling Rigetti's Growth Breakthroughs in Chiplet-Based Architecture: Rigetti's introduction of Cepheus-1-36Q, the industry's largest multichip quantum computer, marked a key step toward scalability. The system achieved a two-fold reduction in error rates compared with its predecessor, Ankaa-3, with a median two-qubit gate fidelity of 99.5%. By leveraging chiplet technology, a proven approach in the semiconductor industry, Rigetti is improving manufacturing yields, reducing complexity, and paving the way for larger, more reliable quantum systems. Management remains confident of delivering a 100-plus qubit chiplet-based system before year-end, underscoring its leadership in superconducting qubits. Strengthened Balance Sheet for Long-Term Execution: Alongside its technical milestones, Rigetti has reinforced its financial foundation with a significantly improved cash position and no debt obligations. This financial strength gives the company flexibility to keep funding its ambitious R&D roadmap, explore selective M&A opportunities, and invest in scaling operations as the quantum computing market matures. With funding risks largely off the table in the near term, management can maintain focus on execution, advancing its chiplet architecture, and accelerating progress toward quantum advantage over the next few years. RGTI's Sales & EPS Growth In 2025, Rigetti is expected to experience a 19.7% decline in revenues. On the profitability front, earnings per share are expected to remain negative, but with an improvement of 86.1% year over year. A Key Challenge for RGTI Revenue Dependence on Government Programs: Despite advancing its technology, Rigetti's financial performance remains tied to government funding cycles. Second-quarter revenue fell significantly, primarily due to the expiration of the U.S. National Quantum Initiative, which is still awaiting reauthorization by Congress. While government contracts from the United States and U.K. provide important validation and cash flow, they also create variability in quarterly results and leave Rigetti vulnerable to policy delays. Sustaining long-term growth will require the company to broaden its revenue base beyond these contracts and convert its technological milestones into recurring commercial opportunities. RGTI Shares Look Overvalued Rigetti's stock is not so cheap, as suggested by the Value Score of F. RGTI is currently trading at a price-to-book (P/B) ratio of 8.74X, which is higher than the industry average of 7.08X. RGTI's Price-to-Book Ratio How to Play Rigetti's Stock Now? While Rigetti is still working through modest revenues and ongoing operating losses, its strong cash position and steady progress on the technology roadmap give investors reasons to stay optimistic. The company's advances in chiplet-based architecture, together with valuable partnerships in government and research, build confidence that it is steadily moving toward the goal of quantum advantage in the coming years. With a Zacks Rank #2 (Buy), Rigetti offers an intriguing opportunity for investors who are comfortable with some volatility in exchange for long-term growth potential. At this stage, the stock is better suited for those with a higher risk appetite, as commercial traction is still developing. For patient investors, Rigetti's combination of financial stability and technology leadership could make it a compelling stock to watch. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Free Report: Profiting from the 2nd Wave of AI Explosion The next phase of the AI explosion is poised to create significant wealth for investors, especially those who get in early. It will add literally trillion of dollars to the economy and revolutionize nearly every part of our lives. Investors who bought shares like Nvidia at the right time have had a shot at huge gains. But the rocket ride in the "first wave" of AI stocks may soon come to an end. The sharp upward trajectory of these stocks will begin to level off, leaving exponential growth to a new wave of cutting-edge companies. Zacks' AI Boom 2.0: The Second Wave report reveals 4 under-the-radar companies that may soon be shining stars of AI's next leap forward. Access AI Boom 2.0 now, absolutely free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Quantum Computing Inc. (QUBT): Free Stock Analysis Report Arqit Quantum Inc. (ARQQ): Free Stock Analysis Report Rigetti Computing, Inc. (RGTI): Free Stock Analysis Report D-Wave Quantum Inc. (QBTS): Free Stock Analysis Report
CTV News
an hour ago
- CTV News
Wall Street holds at a standstill near its record heights
Trader Michael Capolino left, works on the floor of the New York Stock Exchange, Monday, Aug. 18, 2025. (AP Photo/Richard Drew) NEW YORK — Wall Street held near its records Monday. The S&P 500 ended flat, coming off its first loss after setting an all-time high in three consecutive days. The Dow Jones Industrial Average edged down 0.1 per cent, while the Nasdaq composite inched up less than 0.1 per cent. Later this week will come profit reports from Walmart and other big U.S. retailers, which could show how households are navigating a slowing job market and worries about tariffs. The week's highlight will likely arrive Friday, when the U.S. Federal Reserve's chair will give a speech that Wall Street hopes will hint at cuts to interest rates coming soon.
