Joseph Lipsey III, Chattanooga trucking executive who was arrested earlier this week along with his wife and son, has stepped down as CEO of Lipsey Logistics and Lipsey Trucking.
The Lipseys were arrested in Aspen, Colo., on charges of making cocaine and alcohol freely available at teen parties.
Lipsey officials said, "Effective immediately, Johnny Jones has been appointed as interim Chief Executive Officer of Lipsey Logistics and as Chief Executive Officer of Lipsey Trucking.
Mr. Jones will continue in his current roles as President and Chief Operations Officer of Lipsey Logistics.
"In October 2019, John White, current President of Lipsey Transport and former President of U.S. Xpress, will replace Mr. Jones as President of Lipsey Logistics.
"In light of recent allegations about him and his family, Joseph Lipsey will relinquish his management roles and take a leave of absence from both companies. While these allegations relate to a personal matter, Lipsey Logistics and Lipsey Trucking want to assure the public that they will have no impact on business operations. Our customers remain our top priority and we are committed to delivering the high-quality service they expect and deserve."
Lipsey officials said Saturday, "Johnny Jones is the CEO of Lipsey of Logistics. It is not an interim role. Joseph Lipsey is no longer involved in the company and will have no further involvement in the company and its operations."