YRC Worldwide on Friday named James L. Welch, a former president of Yellow Transportation who spent 29 years with the trucking company, as its new CEO.
Welch succeeds William D. Zollars, who stepped down as chairman, president and CEO of YRC Worldwide after leading the company since 1999 through a period of enormous growth that made YRC the largest industrial trucker in the United States that preceded deep financial troubles.
Welch joined Yellow Transportation in 1978 and left YRC Worldwide in 2007. He became president and CEO of same-day courier Dynamex in 2008.
He oversaw the sale of Dynamex to TransForce, the Canadian transportation giant, last year, and resigned as president of the company effective July 22.
Welch has long been considered a top candidate for the top job at the $4.3 billion less-than truckload giant, which has lost more than $2.7 billion since 2006.
He was named CEO by the company’s new board of directors after YRC Worldwide completed its $500 million financial restructuring Friday.
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