Per a Form 8-K that YRC Worldwide Inc. filed with the U.S. Securities and Exchange Commission (SEC) on April 12, company president & COO Timothy A. Wicks has resigned. YRC stated that Wicks was “leaving the Company to pursue an opportunity with his former employer, United Healthcare.”
The statement went to say that with Wicks departure, “operations, sales and marketing will report directly” to chairman & CEO William D. Zollars.
In a financial report issued just the week before on preliminary shipment statistics for its YRC National Transportation and YRC Regional Transportation segments, YRC Worldwide said that total shipments per workday were approximately 42,700 for YRC National and 33,700 for YRC Regional.
“As previously announced,” the statement read, “shipment volumes in the latter part of December and early January were impacted by the extensions to our note exchange. Severe winter weather during January and February further hindered shipment growth and adversely impacted the company's costs, productivity and earnings.”
In that report, Zollars stated that "We appreciate the confidence our customers continue to demonstrate through increasing volume levels and returning their business to us, and we are pleased with the progress we continue to make on increasing shipments while simultaneously reducing costs.
"With the improved operating momentum we achieved as we exited the seasonally slowest quarter of the year, we have even more confidence in our ability to generate positive EBITDA beginning with the second quarter of 2010,” he continued.
YRC noted in the report that the company will hold a conference call for shareholders and investors on May 4, beginning at 9:30am EDT, and said its first-quarter earnings will be released the same day-- prior to the opening of the market.
YRC Worldwide Inc., a Fortune 500 company, is the holding company for numerous motor carrier operations, including YRC, YRC Reimer, YRC Glen Moore, YRC Logistics, New Penn, Holland and Reddaway.
