Teamsters pick Davidson to join YRC Worldwide board
William B. Cassidy, Senior Editor | Jul 14, 2014 11:58AM EDT
William R. Davidson, a veteran Teamsters labor relations official with decades of hands-on less-than-truckload experience, will join the YRC Worldwide board of directors.
Davidson, who began his career as a dockworker at ABF Freight System, will replace Harry Wilson, the Teamsters-nominated director who left the YRC Worldwide board in March after helping the company complete a series of financial transactions that reduced long-term debt and secured a new five-year Teamsters labor agreement.
Unlike Wilson, whose experience was primarily in finance, Davidson comes with a background in trucking that could help YRC as it works to improve operations and customer service.
“Mr. Davidson has nearly four decades of experience in various operational and labor relations capacities with ABF, Roadway and YRCW,” the Teamsters union said in a statement.
Davidson joins YRC Worldwide as the $4.9 billion company’s biggest subsidiary, YRC Freight, plans a
limited expansion of operations after several years of losses and contraction.
The company last month asked the Teamsters to approve changes to the YRC Freight LTL network that would expand certain terminals to better handle “significant business growth.”
The carrier wants the Teamsters union to approve a change of operations that would turn three existing terminals into distribution centers, YRC said in a June 17 letter to the Teamsters.
YRC Freight struggled with restructuring last year, slipping back into the red after
a poorly handled change of operations that closed 29 terminals and three distribution centers.
Since then, CEO James Welch and new YRC Freight President Darren Hawkins have emphasized improving performance across the company and customer service.
Under the 2011 YRC Worldwide restructuring agreement, the Teamsters union is allowed to nominate up to two individuals to serve as “independent directors” on the YRC board.
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As a director, Davidson will receive a $75,000 a year cash retainer and company stock.
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The other Teamsters-nominated director on the YRC Worldwide board is Douglas A. Carty, chairman and co-founder of Canadian school bus company Switzer-Carty Transportation.
Contact William B. Cassidy at [email protected] and follow him on Twitter: @wbcassidy_joc.
Not too shabby for 4 meetings a year?!
