Universal Truckload Announces Scott Wolfe to Retire at End of 2014 and Names
Jeff Rogers as Successor
WARREN, Mich., June 4, 2014
WARREN, Mich., June 4, 2014 /PRNewswire/ --Universal Truckload Services, Inc.
("Universal") (NASDAQ: UACL) today announced that Chief Executive Officer
Scott Wolfe notified Universal of his intention to retire upon expiration of
his employment contract with Universal at the end of this year. Universal
also announced that its Board of Directors has approved the hiring of Jeff
Rogers, former President of YRC Freight, to the position of Executive Vice
President until the end of 2014, after which Mr. Rogers will succeed Mr. Wolfe
as Chief Executive Officer. The Board of Directors has also appointed Mr.
Wolfe as a director of Universal effective immediately.
"Today's announcement is evidence of the high priority both Universal's Board
and Scott Wolfe have placed on working together to assure Universal will
remain in capable hands after Scott retires," said Matthew Moroun, Chairman of
Universal's Board of Directors. "Scott will remain the CEO of Universal for
seven months to help Jeff transition into that position. Scott's appointment
to ourBoard of Directors ensures that his experience and counsel will
continue to benefit Jeff and Universal both now and after Scott's retirement
as Universal's CEO."
Mr. Rogers, a former United States Army Airborne Ranger, brings a wealth of
executive experience to Universal. He was employed for 16 years by YRC
Freight, a $3 billion dollar (sales) enterprise and its predecessors, the last
two years of which he served as YRC's President. "Jeff's record demonstrates
that he has the leadership skills, vision and long term commitment to success
which our CEO must have if Universal is to achieve its growth and
profitability expectations," said Moroun.
Mr. Wolfe also commented on the announcement by adding, "I very much look
forward to working with Jeff through the end of the year and as a member of
Universal's Board. He will manage Universal's operations very well, and I'm
confident will be well received by Universal's employees, customers and
About Universal Truckload Services, Inc.:
Universal Truckload Services, Inc. is a leading asset-light provider of
customized transportation and logistics solutions throughout the United
States, Mexico and Canada. We provide our customers with supply chain
solutions that can be scaled to meet their changing demands and volumes. We
offer our customers a broad array of services across their entire supply
chain, including transportation, value-added, and intermodal services.
Cautionary Statement Regarding Forward-Looking Statements:
Some of the statements contained in this press release might be considered
forward-looking statements. These statements identify prospective information.
Forward-looking statements are based on information available at the time
and/or management's good faith belief with respect to future events and are
subject to risks and uncertainties that could cause actual performance or
results to differ materially from those expressed in the statements. These
forward-looking statements are subject to a number of factors that may cause
actual results to differ materially from the expectations described.
Additional information about the factors that may adversely affect these
forward-looking statements is contained in Universal's reports and filings
with the Securities and Exchange Commission. Universal assumes no obligation
to update forward-looking statements to reflect actual results, changes in
assumptions or changes in other factors affecting forward-looking information
except to the extent required by applicable securities laws.
SOURCE Universal Truckload Services, Inc.
Contact: David A. Crittenden, Chief Financial Officer, DCrittenden@goutsi.com,
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