YRC Worldwide Inc. outlined an overhaul of its board of directors on Friday. The move is part of a deal the trucking carrier struck to entice bondholders to swap debt for equity.Seven members of the YRC board will resign effective May 11, according to filings with the Securities and Exchange Commission. Five new members — most with experience in turning around companies — will join the board while four current directors will remain.....
......The new board members, according to the filing, are:
• Eugene Davis, chairman and CEO of Pirinate Consulting Group LLC. He has experience with turning around businesses.
• Marnie Gordon, a director at investment adviser Angelo, Gordon & Co. She has experience with financially challenged companies.
• Beverly Goulet, vice president of corporate development and treasurer for AMR Corp., the parent company of American Airlines Inc. She has experience in debt and equity financing and out-of-court restructuring.
• Mark Holliday, president of investment firm Goshawk Capital Corp. and a partner in investment firm Camden Asset Management LP. He has experience in financial matters, such as capital restructuring.
• John Lamar, chairman of Premier Trailer Leasing and chairman of BeefTek LLC, an integrated beef development firm. He also is on the executive committee of the SonoMedia Inc. board. He has experience in international logistics management, among other things.......