Matthew Leech has been named as the new president and chief executive of Ports America, the largest terminal operator in North America.
He is due to take over the role in November 2022 and will succeed Mark Montgomery, who will retire as CEO and continue to support the company in an advisory role.
Leech is described as a “seasoned ports and terminal executive” with more than 25 years of experience in the maritime industry.
Previously, he was chief executive and managing director for the Americas at DP World.
Prior to DP World’s acquisition of CSX World Terminals in 2005, Leech oversaw key expansion initiatives for CSX World Terminals in his role as vice president, operations and development.
“Ports America is poised for growth, and Matt is the right leader to take this exceptional business forward,” said outgoing CEO Montgomery.
“He has a deep understanding of Ports America and shares the value-driven focus that differentiates our organisation.”
Leech will work closely with Andrew Clarke, who assumed the position of chairman of the Ports America board of directors earlier this year.
“Matt brings strong industry experience and will be an outstanding addition to the team as we deliver on our mission to provide the highest quality operations for our customers,” said Clarke.
Ports America is owned by Canada Pension Plan Investment Board (CPP Investments) following the acquisition of a majority stake in the company from Oaktree Capital Management in 2021.
Toronto-based CPP Investments, which has funds under management of CAD 539bn ($413bn), had been an existing minority investor in Ports America since 2014.
“Matt brings a wide range of industry experience and knowledge to Ports America and is the ideal leader to build on the strong foundation in place,” said Scott Lawrence, managing director at CPP Investments.
Founded in 1921, Ports America boasts diversified operations across the country, including 70 locations in 33 ports on each of the US’ three coasts.
The company annually handles 13.4m teu, including 10 million tonnes of general cargo, 2.5m vehicles and 1.7m cruise ship passengers.
