Penske pres retires; replacement named

READING, Pa. — Penske Logistics President Vincent Hartnett has announced he will retire in January 2011 after more than 38 years with the company.

In a statement, CEO and founder Roger S. Penske named Marc Althen as the new president.

Althen, himself a 22-year Penske veteran, most recently served as senior vice president of Administration and Procurement with parent company, Penske Truck Leasing.

Prior to joining Penske, he held positions with Chevron and GE’s Gelco Truck Leasing.

"Vince Hartnett has made tremendous contributions to the growth and success of our businesses and established Penske Logistics as an industry leader, and for that we are sincerely grateful," Penske stated.

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