William B. Cassidy, Senior Editor | Nov 04, 2011 11:01AM EDT
YRC Worldwide gave Jamie G. Pierson the job he’s been doing effectively since August, naming him executive vice president and chief financial officer.
Pierson was named interim financial officer in August, shortly after YRC Worldwide completed a $500 million restructuring that brought in new leadership. The $4.3 billion company lost $120 million in the third quarter on $1.276 billion in revenue. Restructuring-related charges accounted for $96 million in losses.
YRC Worldwide’s new leaders, including YRC Worldwide CEO James L. Welch and YRC president Jeff Rogers, are trying to steer the company back toward profit.
Pierson has been involved in YRC Worldwide’s restructuring for three years as a managing director with consultant Alvarez & Marsal North America. He is part of a leaner management team put in place by Welch, who replaced former YRC Worldwide chairman, CEO and president William D. Zollars in July.
“As we position the company for future growth and return YRC Worldwide to a more traditional, leaner holding company, Jamie will be invaluable and exceptionally qualified to oversee our financial strategy,” said Welch.
Contact William B. Cassidy at wcassidy@joc.com. Follow him on Twitter at @wbcassidy_joc