YRC Worldwide to Name New CEO

When YRC Worldwide’s new board of directors meets for the first time today, job number one will be naming a new CEO. Job number two: a new CFO.

Long-time Chairman, President and CEO William D. Zollars steps down today, and interim CFO and board member William Trubeck also retires.

Former Yellow Transportation President James L. Welch is widely expected to be named CEO of the $4.3 billion enterprise when the new directors meet.

Welch resigned as president of same-day carrier Dynamex effective July 22, leaving him free to accept the helm of a company where he worked for 29 years.

The new board can’t meet or name a CEO until YRC Worldwide’s restructuring is complete, Zollars told investment analysts in a conference call today.

That restructuring is expected to close sometime today, he said.

YRC’s outgoing board, chaired by Zollars, will be replaced by six directors appointed by YRC’s banking group, two Teamster-nominated directors and a new chairman.

“Their first action will be to name a CEO,” Zollars said.

Contact William B. Cassidy at wcassidy@joc.com. Follow him on Twitter at @wbcassidy_joc