Joseph Lipsey III, 56, of Aspen, CO, owner of Lipsey Logistics and Lipsey Trucking, based in Chattanooga, TN, was arrested March 12 and charged in Colorado with distribution of cocaine to a minor, three counts of felony contributing to the delinquency of a minor, three counts of serving alcohol to minors, possession of drug paraphernalia and providing nicotine to minors.
The first and most serious charge is the highest level drug felony available under Colorado law, and comes with a mandatory prison sentence of between eight and 32 years upon conviction.
Additionally, Lipsey’s wife, Shira Lipsey, and son, Joseph Lipsey IV, were charged with similar counts. They were released on bonds and will be back in court April 1.
On March 18, the company released the following statement regarding a change in management:
“Effective immediately, Johnny Jones has been named Chief Executive Officer of Lipsey Logistics and as Chief Executive Officer of Lipsey Trucking. The position is a permanent one. Mr. Jones will also continue in his current roles as President and Chief Operations Officer of Lipsey Logistics.
“Joseph Lipsey III, the company’s former Chief Executive Officer, has relinquished his management roles and ownership shares in the company in light of personal allegations against him and members of his family. While the allegations relate to personal matters and have nothing to do with our business, the company takes them seriously and does not wish for them to distract from our operations. Mr. Lipsey has transferred all of his voting shares in the company to Mr. Jones.
“In the past, Mr. Lipsey was principally an investor in the company and has never been involved in its day-to-day operations. Regardless, we would like to assure the public that his exit from the business is immediate and permanent, and that he will have no ownership of or control over the companies going forward.
“Additionally, we are pleased to announce that in October 2019, John White, current President of Lipsey Transport and former President of U.S. Xpress, will step in to backfill the role of President of Lipsey Logistics. Mr. White brings extensive knowledge and experience in the trucking and transportation space, having served in a variety of senior operational and marketing roles at U.S. Xpress over the course of a number of years.
“Despite recent news media reports about this management change, this message contains the most accurate current information about Lipsey Logistics. We will also be sharing any future important information about the company directly on our website.
“We value our customers and sincerely appreciate the trust they place in our company. We are committed as ever to delivering the high-quality services they expect and deserve.”