Monday, April 06, 2015

YRC's Pierson talks new compensation plan, turnaround

Jamie Pierson doesn't want to take all the credit for YRC Worldwide Inc.'s turnaround effort.

Since joining the company in 2011, the Overland Park-based less-than-truckload carrier has come a long way. It has dodged bankruptcy and default fears, reorganized its labor agreement with its union employees and reached a new debt agreement that will allow the company to focus on doing business. With two straight profitable quarters under its belt, YRC is feeling better in 2015 and attracting new investors.

"I don't feel like that much of a piece of it. I consider myself one piece of a 1,000-piece jigsaw puzzle," Pierson said in a exclusive interview. "It wasn't just me or (CEO James Welch), it was every single employee in this company.

"When James took over in July 2011, analysts didn't think we'd see the end of 2011 let alone 2012, and here we are in 2015 continuing to make small but substantial steps to returning ourselves to ... market margin."

Pierson also had high praise for Welch and said the company's CEO likely would give a similar answer. Pierson said Welch finds the time to reply to every email he receives from YRC employees
"I am blown away by him," Pierson said. "If it wasn't for him I wouldn't have come over."

Full story here.........

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