News Release

December 11, 2019 at 4:02 PM EST

YRC Worldwide Announces Leadership And Board of Directors Changes

OVERLAND PARK, Kan., Dec. 11, 2019 (GLOBE NEWSWIRE) -- YRC Worldwide Inc. (NASDAQ: YRCW) announced changes to its leadership team and Board of Directors as the Company moves forward with its multi- year strategic initiatives designed to achieve sustained profitability.

Chief Financial Officer

Stephanie Fisher, the Company’s CFO, and the Company have mutually agreed to a separation agreement on December 10, 2019.  Darren Hawkins, Chief Executive Officer of YRC Worldwide, said "I would like to thank Stephanie for 15 years of dedicated service to YRC Worldwide. I truly admire and respect the leadership she has provided to our financial team." This departure does not reflect any disagreements about the Company’s past financial reports or disclosures.

Effective immediately, Jamie Pierson is returning to the Company as the CFO and a member of the Board of Directors. While at the Company (2011-2016 CFO), Pierson was responsible for helping execute a multi-faceted operational turnaround and refinancing. Hawkins commented, “Jamie and I worked together closely while he was CFO of YRC Worldwide. Jamie knows our company and industry well. He will hit the ground running and I am pleased to welcome him back to the YRCW team.” Prior to returning to the Company, Pierson served as CFO for Horizon Global, one of the world’s leading manufacturers of branded towing and trailering equipment.

Board of Directors

Effective immediately, the Board of Directors has appointed Matt Doheny as the Chairman of the Board.  Doheny, who joined the Board of Directors in 2011, has an extensive background in corporate finance and turnaround, including having served as a Managing Director of Deutsche Bank Securities, Inc. and Portfolio Manager at Fintech Advisory of New York, New York.

Darren Hawkins noted, “These changes will support our previously released multi-year strategic road map to sustained profitability. Building the right team to support this road map is critical and we believe these changes will do just that.”

In addition, in an effort to help right-size the Board of Directors following Jamie Pierson’s election to the Board, three directors volunteered to resign from the Board. Raymond Bromark and Robert Friedman offered to accelerate their planned retirements from the Board occasioned by the Board’s age limit policy.  James Winestock also volunteered to resign from the Board.

Matt Doheny commented, “On behalf of the Board of Directors and executive team, we thank Ray, Bob and Jim for their contributions to the Company.”

About YRC Worldwide

YRC Worldwide Inc., headquartered in Overland Park, Kan., is the holding company for a portfolio of less-than- truckload (LTL) companies including Holland, New Penn, Reddaway, and YRC Freight, as well as the logistics company HNRY Logistics. Collectively, YRC Worldwide companies have one of the largest, most comprehensive logistics and LTL networks in North America with local, regional, national and international capabilities. Through their teams of experienced service professionals, YRC Worldwide companies offer industry-leading expertise in flexible supply chain solutions, ensuring customers can ship industrial, commercial and retail goods with confidence.

Please visit our website at www.yrcw.com for more information.

Investor Contact:   Eric Birge
913-696-6108
investor@yrcw.com
     
Media Contact:   Mike Kelley
913-696-6121
mike.kelley@yrcw.com

SOURCE:  YRC Worldwide

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Source: YRC Worldwide, Inc.