YRC Worldwide Announces Election of Five New Board Members in Planned Transition

News provided by

May 04, 2010, 04:06 ET

OVERLAND PARK, Kan., May 4 /PRNewswire-FirstCall/ -- YRC Worldwide Inc. (Nasdaq: YRCW) today announced the election of a distinguished group of five new members to the company's Board effective May 11, 2010 in a planned transition previously disclosed in a debt-for-equity exchange completed on December 31, 2009.

Chairman of the Board, Bill Zollars, will remain in his position. Dennis E. Foster and William L. Trubeck are being re-elected to the Board. New members include Eugene I. Davis, Marnie S. Gordon, Beverly K. Goulet, Mark E. Holliday and John A. Lamar.

Davis, 55, is Chairman and Chief Executive Officer of Pirinate Consulting Group, LLC. In this position since 1999, he was previously Chief Operating Officer at Total-Tel USA Communications, Inc. He has extensive experience in turn-around management and strategic planning advisory services for public and private business entities, including those in the transportation industry.

Gordon, 44, was Director at Angelo, Gordon & Co. from 1998 – 2001. Previously, she served as Vice President in investment banking for Goldman, Sachs & Co. Ms. Gordon has vast experience in working with corporate management regarding operating strategies and financial structure.

Goulet, 55, has been with AMR Corporation – American Airlines, Inc. since 1999. She is currently Vice President – Corporate Development and Treasurer for the company (since 2002) and previously served as Managing Director – Corporate Development. For 19 years prior thereto, Ms. Goulet practiced corporate finance and securities law.

Holliday, 42, is President of Goshawk Capital Corp. and Partner at Camden Asset Management, LP. He was previously a Portfolio Manager at Deephaven Capital Management, LLC. Mr. Holliday has wide-ranging experience in capital restructuring, service on official and ad hoc creditor committees and other board experience.

Lamar, 69, has served as Chairman of Premier Trailer Leasing since 2008 and was previously Chairman of BeefTek, LLC. Mr. Lamar has executive experience in international logistics management, including Asia, distribution, transportation and business turnarounds, including in truck and trailer leasing.

Board members stepping down are Michael T. Byrnes, Cassandra C. Carr, Howard M. Dean, Phillip J. Meek and Mark A. Schulz. Carl W. Vogt will resign at a later date.

"We are pleased with the diversity of skills and specific expertise being added to our Board congruent with our comprehensive plan," said Bill Zollars, Chairman and CEO of YRC Worldwide. "On behalf of the Company and the Board, I want to thank Mike, Cassandra, Howard, Phil and Mark for their years of service, many contributions and a smooth transition."

The Board has not yet determined the committees of the Board to which the new directors will be named.

About YRC Worldwide

YRC Worldwide Inc., a Fortune 500 company headquartered in Overland Park, Kan., is one of the largest transportation and logistics service providers in the world and the holding company for a portfolio of brands including YRC, YRC Reimer, YRC Glen Moore, YRC Logistics, New Penn, Holland and Reddaway. YRC Worldwide has the largest, most comprehensive network in North America with local, regional, national and international capabilities. Through its team of experienced service professionals, YRC Worldwide offers industry-leading expertise in heavyweight shipments and flexible supply chain solutions, ensuring customers can ship industrial, commercial and retail goods with confidence. Please visit www.yrcw.com for more information.