Saturday, December 17, 2016
YRC Chief Financial Officer Jamie Pierson Resigns
Jamie Pierson had been a consultant for the Overland Park-based trucking company starting in 2008 and became an employee in 2011. Throughout that time, YRC struggled to avoid bankruptcy, which it ultimately did thanks to a financial restructuring and extended concessions from its Teamsters union employees.
YRC Worldwide disclosed Pierson’s plans to leave the company in a filing with the Securities and Exchange Commission. It said Pierson would work to transition his duties to Stephanie D. Fisher. He will remain a consultant for six months to further the transition.
Fisher will become acting chief financial officer on Jan. 1. She currently is YRC’s vice president and controller.
“Mr. Pierson is resigning to take a chief financial officer position with a privately-held building supply and material company located near his home in the Dallas, Texas, metropolitan area, where his family resides,” YRC’s filing said.
It added that Pierson has commuted to the Overland Park headquarters since first becoming a consultant. Pierson became YRC’s top finance officer in 2011, continuing his commute.
Pierson previously had been a managing director of Alvarez & Marsal North America. His work for the firm included business restructurings outside of bankruptcy court and advisory work for companies’ senior management.
“We want to extend our deepest gratitude to Mr. Pierson for his service, contributions, and commitment to the company, including the personal family sacrifice experienced with commuting for eight years” YRC CEO James Welch said in the company’s filing. “Jamie has been a great partner, working closely with me, and I wish him well in his new endeavor.”
Welch and Pierson discovered while working together that they had attended the same high school in Texas, though at different times.