Monday, May 09, 2011

YRC CEO,Interim CFO Likely To Step Down In July

YRC Worldwide Inc. Chief Executive William Zollars and interim Chief Financial Officer William Trubeck plan to step down around late July, when the struggling trucking company aims to complete a critical financial restructuring.

YRC didn't provide details Friday of its efforts to find successors for them, although Trubeck said in an interview that "there are wheels in motion" to do so.

Trubeck, a YRC board member since 1994, and Zollars, who is also YRC's chairman, likely won't serve on the new board of directors when it's put in place after completion of the restructuring, Trubeck said.

Zollars announced in September that he planned to retire, although he said at the time he would stay until the company's recovery plan was in place. Trubeck has been interim CFO since March, when former CFO Sheila Taylor left.

Debt-laden YRC, which is in the midst of stitching together a financial overhaul to help it stay afloat, has said little about its search for new top management. Last fall, Zollars said only that the search for his successor was focusing mainly on outside candidates. Full Story......

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