United Petroleum Transport's president and CEO Greg Price is stepping down from his position with the family-owned company after 43 years of leadership.

The Price family selected Matt Herndon as the new president of UPT, an Oklahoma City-based carrier of motor fuels, aviation fuels, and chemicals.

“I may be stepping back from my role as president, but I’ll still be around to guide Matt as he adjusts to his new position,” Price said. “Matt is a smart, experienced leader who knows how to succeed in this industry.

“I have no doubt he will bring even more success to our company.”

Price and his son, chief operating officer David Price, said they decided the best way to support the company’s long-term mission and strategic goals was to bring in an experienced industry professional to help continue their work.

Herndon has been a well-regarded leader in the transportation industry for nearly 30 years. He has held multiple senior leadership positions, including COO for U.S. Express and PAM Transportation Services. He is experienced and driven, has a proven record of success, and understands and appreciates UPT’s mission, vision, and values, the company said.

Although Greg Price is stepping down as president, he will continue to lend a guiding hand, and work closely with Herndon as he learns UPT’s inner workings.

Additionally, David Price will maintain a day-to-day role within the company but eventually vacate the COO position, UPT said. Even though it is experiencing a change in leadership, UPT plans to remain a family-owned and -operated company.

“Herndon brings with him a wealth of knowledge in leading large transportation organizations, and I look forward to us learning from each other as we work together to take UPT to the next level in our industry,” David Price said.