YRC Worldwide Inc. today announced that Jamie G. Pierson, 42, has been appointed the company's executive vice president and chief financial officer effective immediately. Pierson recently served as the company's interim chief financial officer since August 2011.
"We are extremely pleased and very fortunate that Jamie has agreed to come on board," said James Welch, chief executive officer - YRC Worldwide. "Jamie knows our business thoroughly bringing exceptional technical knowledge and financial acumen to this role. His outside perspective will be instrumental as we shape the future of our company."
"I am truly excited to be a member of YRC Worldwide and James' leadership team," said Pierson. "Over the past three years, I have been involved in all aspects of our financial restructuring working closely with our lenders, shareholders, other stakeholders and the company's finance team. We have made great strides over the past several months and fully expect that we will continue to do so into the foreseeable future. I am privileged to be given this opportunity and corresponding responsibility, appreciate James' and the board's confidence in me and look forward to supporting the company's future strategy and its 32,000 union and non-unionized employees."
Previously, Pierson was a Managing Director with Alvarez & Marsal North America LLC where he focused on out-of-court restructurings and senior management advisory. Prior to joining A&M, he was Vice President of Corporate Development and Integration with Greatwide Logistics Services and immediately preceding that was a Managing Director with FTI Capital Advisors, the wholly-owned investment banking unit of FTI Consulting, Inc., where he provided in- and out-of-court restructuring services to the nation's largest syndication agent including capital structure analysis, asset disposition plan review, evaluation, development and negotiation of financial covenants and reporting requirements and subsequent compliance. Previously, he was with Houlihan Lokey Howard & Zukin where he worked in the firm's financial advisory group.
Pierson earned a Bachelor's degree in Business Administration, with a concentration in Finance and Accounting, and a Master's degree in Business Administration, with a concentration in Finance and Entrepreneurship, both from the University of Texas.
"As we position the company for future growth and return YRC Worldwide to a more traditional, leaner holding company, Jamie will be invaluable and exceptionally qualified to oversee our financial strategy," added Welch.