“Ben Hatfield is a respected and proven leader, with the executive and operating experience required to guide the company through the restructuring process,” Scharf said. “With 30 years of industry experience, Ben has played an important role in improving the company’s operations and is well-qualified to lead Patriot. The Patriot board is confident that his leadership will be invaluable as we undertake changes necessary to position the company for future success.”

Scharf also thanked Engelhardt for stepping in at a critical time and providing a steady hand in leading Patriot through the initial phase of the restructuring process.