Horizon Lines Announces Results of 2010 Annual Stockholder Meeting

Jun 02, 2010, 17:00 ET from Horizon Lines, Inc.

CHARLOTTE, N.C., June 2 /PRNewswire-FirstCall/ -- Horizon Lines, Inc. (NYSE: HRZ) announced that shareholders at the company's annual meeting yesterday elected three Class II directors and ratified the appointment of Horizon Lines' public accounting firm Ernst & Young LLP.

Additionally, the Board of Directors re-elected Chief Executive Officer Charles G. Raymond as its Chairman.

During the annual meeting, shareholders re-elected Class II directors Vern Clark and William J. Flynn, and elected Stephen H. Fraser as a new Class II director to succeed Dan A. Colussy, who retired from the board.  

"Mr. Fraser's experience and leadership will complement our Board of Directors, which is comprised of dedicated industry leaders with strong executive leadership and financial experience," said Mr. Raymond.  "We thank Dan Colussy for his five years of service as a Horizon Lines director.  He has served us well with his deep expertise and wise counsel and we wish him all the best."

Mr. Fraser has extensive experience in supply chain/logistics, transportation and international markets.  From September 2008 to December 2009, he served as Executive Vice President, Corporate Strategy, at GENCO Supply Chain Solutions, where he also served as Chief Executive Officer of three GENCO business units.  From May 2000 to January 2008, Mr. Fraser was President and Chief Executive Officer of May Logistics Services and ADS Logistics, two logistics companies with common ownership. From 1996 to 2000, he also has served in a variety of leadership positions at divisions of GATX Corporation, including Managing Director, Chemical Logistics, Chief Operating Officer of GATX EnviroLease, and Chief Operating Officer Inventory Monitoring Services. Prior to that, Mr. Fraser was founder and general partner in IBMI and IMPAC, environmental logistics companies, and subsequently of EnviroLease Corporation, which was acquired by GATX in 1996.  Mr. Fraser began his career by working for 10 years at GE Sea Containers. He serves on the boards of Nautilus Holding Corporation and Focus Products Group.  Mr. Fraser holds a Bachelor of Science degree in Economics and Political Science from Columbia University.

About Horizon Lines

Horizon Lines, Inc., is the nation's leading domestic ocean shipping and integrated logistics company. The company owns or leases a fleet of 20 U.S.-flag containerships and operates five port terminals linking the continental United States with Alaska, Hawaii, Guam, Micronesia and Puerto Rico. The company also manages a domestic and overseas service partner network and provides integrated, reliable and cost competitive logistics solutions. Horizon Lines, Inc., is based in Charlotte, NC, and trades on the New York Stock Exchange under the ticker symbol HRZ.

SOURCE Horizon Lines, Inc.



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