YRC Worldwide Announces New Board of Directors
"I am delighted to lead this strong lineup of business executives as the new Chairman of the
The following Directors have been appointed to serve on the YRCW Board, effective immediately:
Raymond Bromark, 65, CPA, retired in 2006 after 39 years with PricewaterhouseCoopers LLP. He started with the firm as an auditor in Chicago, then served as a Senior Manager/Partner in New Yorkand Senior Audit Partner in Boston. He returned to New Yorkin 1990 and completed his career there in various capacities, including as Lead Engagement, Client Service Partner and as Deputy Vice Chairman and Head of the firm's National Office. He received a bachelor's of science degree in business administration from Quincy Collegein Quincy, Illinois. He resides in Sarasota, Florida. Douglas Carty, 55, led Laidlaw Education Services as President and CEO in 2006 and 2007. Previously, he served as Senior Vice President and Chief Financial Officer for Laidlaw International, Inc., whose education services unit operated 41,000 school buses and transported more than 2 million students daily throughout the U.S. and Canada. Carty's career has also featured a full decade of financial roles with Canadian Airlines Corp., including four years as Senior Vice President and Chief Financial Officer. He received his bachelor's of arts degree from Queen's University in Kingston, Ontarioand his MBA from the University of Western Ontarioin London, Ontario. Carty lives in Glen Ellyn, Illinois. Matthew Doheny, 41, earlier this year became president of North Country Capital LLC, an investment firm that invests in startups and companies looking to expand. In 2010, he was a candidate for the U.S. House of Representatives, 23rd Congressional Districtof New York. He offers extensive background in corporate finance, having previously served as portfolio manager with Fintech Advisory Inc.of Watertown, New York, and as managing director of the Distressed Assets Groupat Deutsche Bank Securities, Inc.of New York, New York. A Watertownresident, Doheny holds a bachelor's of arts degree from Allegheny Collegein Meadville, Pennsylvaniaand a juris doctor degree from Cornell Law Schoolin Ithaca, New York. Robert L. Friedman, 68, has been a Senior Managing Director of The Blackstone Group L.P. in New Yorksince 1999, serving for most of that period as the firm's Chief Legal Officer. Blackstone is one of the world's leading investment and advisory firms, with $159 billionin assets under management. Previously for more than 30 years, Friedman was with the New York-based law firm of Simpson Thacher & Bartlett. A resident of Rye, New York, he received his bachelor's of arts degree from Columbia Collegein New Yorkand his juris doctor degree from the University of Pennsylvania Law Schoolin Philadelphia.
James Hoffman, 58, held various leadership roles for 10 years with Alliant Energy of Madison, Wisconsin. The company delivers regulated electric and natural gas services to homes, businesses, and industries across the Midwest. His 30-year career started with IBM Corporationand has focused on information systems. He was Chief Information Officer for MCI Communicationsin the mid 1990s and also served as Executive Vice President, Corporate Services for Teleconnect Companyof Cedar Rapids, Iowa. He is the immediate past chair of the Iowa Health System, the largest healthcare enterprise in the state of Iowa, serving that role from 2008 to 2010. A Cedar Rapids, Iowaresident, Hoffman received his bachelor's degree in business administration from the University of Iowa. Michael J. Kneeland, 57, has over 30 years of experience in the equipment rental business, including over a decade with the Greenwich, Connecticut-based United Rentals. The company he leads boasts 539 rental locations in the United Statesand Canadaand approximately 7,500 employees. Previously, Kneeland held senior management positions with Freestate Industries Inc.and Equipment Supply. Harry J. Wilson, 39, founded MAEVA Advisorsto play a lead role in driving corporate turnarounds and complicated restructurings. In this capacity, Mr. Wilsonserved as the financial advisor to the Joint Management/Labor Committee of YRC Worldwide. Mr. Wilsonis a career investor in private equity and distressed situations, with a great deal of experience in operational turnarounds. More recently Wilson was a candidate for New York StateComptroller and, before that, served as a Senior Advisor to the President's Auto Task Force, where he had principal responsibility for the restructuring of General Motors. A resident of Scarsdale, New York, he received his bachelor of arts degree from Harvard Collegeand his MBA degree from Harvard University. Jim Winestock, Jr., 60, retired from UPS in 2009 after a 40-year career that culminated with his tenure as Senior Vice President and Officer, and Director of U.S. Operations and Global Security. He took on various positions of increasing responsibilities while with UPS, including President and Chief Operating Officer of the Midwest Regionand then the same title for the North Central Region. Winestock holds a bachelor's of science degree in finance from Massey Collegein Jacksonville, Florida. He currently lives in Florida.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "will," and similar expressions are intended to identify forward-looking statements. The company's future results could differ materially from any results projected in such forward-looking statements because of a number of factors, including (among others), the effect of the restructuring, the company's ability to generate sufficient cash flows and liquidity to fund operations, which raises substantial doubt about the company's ability to continue as a going concern, inflation, inclement weather, price and availability of fuel, sudden changes in the cost of fuel or the index upon which the company bases its fuel surcharge, competitor pricing activity, expense volatility,
including (without limitation) expense volatility due to changes in rail service or pricing for rail service, ability to capture cost reductions, changes in equity and debt markets, a downturn in general or regional economic activity, effects of a terrorist attack, labor relations, including (without limitation), the impact of work rules, work stoppages, strikes or other disruptions, any obligations to multi-employer health, welfare and pension plans, wage requirements and employee satisfaction, and the risk factors that are from time to time included in the company's reports filed with the
Linden, Alschuler & Kaplan
Web site: www.yrcw.com
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