Fred Jacobsen will resign from his position as president and CEO of Tampa Cargo.

The resignation will be effective after the next annual shareholders' meeting, which is scheduled for March 30 in Medellin. Jacobsen is leaving for his own professional reasons.

Tampa Cargo was a distressed company eight years ago when Jacobsen came on board. He is credited with turning it around and building it into a major cargo operator in the Americas.

The board of directors accepted his resignation but pledged to continue development of the airline "on the same principles and values that were applied under Fred's leadership."

The board is seeking a replacement.

Thomas L. Gallagher