Toll Group chief executive Michael Byrne has added another former Linfox executive to his team, with Peter Stokes today joining as the trucking group’s new president of operational services.
Stokes left his role at mining group Barminco in August. Between 2006 and 2013, he was the chief operating officer of another trucking group, Linfox, where Byrne was the chief executive officer.
Byrne was hired to lead Toll after Japan Post cleared out the company’s management team at the start of the year, after a disastrous two years of ownership.
Japan Post bought Toll for $6.5 billion at the start of 2015. In April this year, it announced a $4.5 billion writedown of the asset.
Byrne was put in charge to help get Toll back on track, and his addition of a former colleague is a clear continuation of this effort.
“[Stokes] will play a key role in delivering the next generation of Toll’s operational capability so we can support our customers and drive significant improvements in safety and productivity,” Byrne said this week, in an exclusive interview with the AFR.
Stokes will reportedly be tasked with cutting $40 million in costs from Toll’s operational services division, which covers all three of Toll’s core divisions.
“Mr Stokes brings a wealth of senior leadership, with a strong focus on safety and operational excellence,” Bryne said.