ACFS Port Logistics founder Terry Tzaneros has taken over the running of the Sydney freight company as it navigates voluntary administration, with new documents revealing more than $290 million is owed to more than 60 creditors.
Tzaneros, who founded ACFS with his son Arthur more than two decades ago, said he would remain managing director for at least the duration of the administration process.
His return to the helm follows Arthur Tzaneros’ resignation as chief executive earlier this week after controversial comments he made in a private WhatsApp group about an ongoing police investigation involving students from Sydney’s Scots College.
Arthur previously apologised for the comments, saying he “deeply regret” what he had written and acknowledging he had shown “a complete lack of sensitivity”.
In a statement on Wednesday, Terry said ACFS was focused on maintaining its operations and customer service.
“Our immediate priority hasn’t changed: keep our trucks moving, keep our customers’ containers moving and maintain the service levels our customers expect from ACFS,” he said.
The leadership change comes as documents lodged with the Australian Securities and Investments Commission (ASIC)…