Old Dominion Freight Line Promotes Kevin M. Freeman to Executive Vice President and Chief Operating Officer
April 30 2018 - 9:00AM
Business Wire
Old Dominion Freight Line, Inc. (Nasdaq: ODFL) today announced
that it has appointed Kevin M. “Marty” Freeman, currently the
Company’s Senior Vice President - Sales, to serve as the Company’s
Executive Vice President and Chief Operating Officer, effective May
16, 2018.
Mr. Freeman has served in his current role since 2011 and has
assumed ever-increasing roles and responsibilities in customer
relations, sales and operations since joining the Company in 1992.
He brings 39 years of transportation industry experience to his new
position, which includes responsibility for the Company’s
Operations, Sales, Human Resources and Customer Service
functions.
Greg C. Gantt, the Company’s President and Chief Operating
Officer, said, “I am pleased to announce Marty’s promotion, which
will be effective upon my previously announced transition to the
combined role of President and Chief Executive Officer. Marty has
played a significant part in shaping Old Dominion into the
industry-leading company it is today. We are fortunate to have such
a strong and vibrant leader who is deeply committed to our history
and culture, while also focusing on our strategic opportunities and
goals. He has consistently demonstrated his passion and dedication
to our Company, and his promotion will provide him with an even
greater opportunity to further enhance Old Dominion’s performance.
We will all benefit from Marty’s leadership and continued
commitment to our long-term success.”
Mr. Freeman said, “I am honored to accept this new role and look
forward to working with Greg, our Board of Directors and our entire
OD Family of employees as we continue to grow our great Company. I
am excited about this opportunity, and I promise that we will not
waver from our commitment to providing on-time and claims-free
service to our customers. I am proud to be a part of Old Dominion
and look forward to our future accomplishments.”
Forward-looking statements in this news release are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. We caution the reader that such
forward-looking statements involve risks and uncertainties that
could cause actual events and results to be materially different
from those expressed or implied herein, including, but not limited
to, the following: (1) the competitive environment with respect to
industry capacity and pricing, including the use of fuel
surcharges, which could negatively impact our total overall pricing
strategy and our ability to cover our operating expenses; (2) our
ability to collect fuel surcharges and the effectiveness of those
fuel surcharges in mitigating the impact of fluctuating prices for
diesel fuel and other petroleum-based products; (3) the negative
impact of any unionization, or the passage of legislation or
regulations that could facilitate unionization, of our employees;
(4) the challenges associated with executing our growth
strategy, including our ability to successfully consummate and
integrate any acquisitions; (5) changes in our goals and
strategies, which are subject to change at any time at our
discretion; (6) various economic factors such as recessions,
downturns in the economy, global uncertainty and instability,
changes in U.S. social, political, and regulatory conditions or a
disruption of financial markets, which may decrease demand for our
services; (7) the impact of changes in tax laws, rates, guidance
and interpretations, including those related to certain provisions
of the Tax Cuts and Jobs Act; (8) increases in driver and
maintenance technician compensation or difficulties attracting and
retaining qualified drivers and maintenance technicians to meet
freight demand; (9) our exposure to claims related to cargo loss
and damage, property damage, personal injury, workers’
compensation, group health and group dental, including increased
premiums, adverse loss development, increased self-insured
retention levels and claims in excess of insured coverage levels;
(10) cost increases associated with employee benefits, including
costs associated with employee healthcare plans; (11) the
availability and cost of capital for our significant ongoing cash
requirements; (12) the availability and cost of new equipment and
replacement parts, including regulatory changes and supply
constraints that could impact the cost of these assets; (13)
decreases in demand for, and the value of, used equipment; (14) the
availability and cost of diesel fuel; (15) the costs and potential
liabilities related to compliance with, or violations of, existing
or future governmental laws and regulations, including
environmental laws, engine emissions standards, hours-of-service
for our drivers, driver fitness requirements and new safety
standards for drivers and equipment; (16) the costs and potential
liabilities related to various legal proceedings and claims that
have arisen in the ordinary course of our business, some of which
include class-action allegations; (17) the costs and potential
liabilities related to governmental proceedings, inquiries, notices
or investigations; (18) the costs and potential liabilities related
to our international business relationships; (19) the costs and
potential adverse impact of compliance with, or violations of,
current and future rules issued by the Department of
Transportation, the Federal Motor Carrier Safety Administration
(the “FMCSA”) and other regulatory agencies; (20) the costs and
potential adverse impact of compliance associated with addressing
interoperability between legacy electronic automatic on-board
recording devices and electronic logging devices (“ELDs”) that
comply with FMCSA’s ELD regulations and guidance; (21) seasonal
trends in the less-than-truckload industry, including harsh weather
conditions and disasters; (22) our dependence on key employees;
(23) the concentration of our stock ownership with the Congdon
family; (24) the costs and potential adverse impact associated with
future changes in accounting standards or practices; (25) potential
costs associated with cyber incidents and other risks, including
system failure, security breach, disruption by malware or other
damage; (26) failure to keep pace with developments in technology,
any disruption to our technology infrastructure, or failures of
essential services upon which our technology platforms rely, which
could cause us to incur costs or result in a loss of business; (27)
the costs and potential adverse impact associated with transitional
challenges in upgrading or enhancing our technology systems; (28)
damage to our reputation through unfavorable publicity; (29) the
costs and potential adverse impact of compliance with
anti-terrorism measures on our business; (30) dilution to
existing shareholders caused by any issuance of additional equity;
(31) the impact of a quarterly cash dividend or the failure to
declare future cash dividends; (32) fluctuations in the market
value of our common stock; (33) the impact of certain provisions in
our articles of incorporation, bylaws, and Virginia law that could
discourage, delay or prevent a change in control of us or a change
in our management; and (34) other risks and uncertainties described
in our most recent Annual Report on Form 10-K and other filings
with the SEC. Our forward-looking statements are based upon our
beliefs and assumptions using information available at the time the
statements are made. We caution the reader not to place undue
reliance on our forward-looking statements as (i) these statements
are neither a prediction nor a guarantee of future events or
circumstances and (ii) the assumptions, beliefs, expectations and
projections about future events may differ materially from actual
results. We undertake no obligation to publicly update any
forward-looking statement to reflect developments occurring after
the statement is made, except as otherwise required by law.
Old Dominion Freight Line, Inc. is a leading,
less-than-truckload (“LTL”), union-free motor carrier providing
regional, inter-regional and national LTL services, which include
ground and air expedited transportation and consumer household
pickup and delivery through a single integrated organization. In
addition to its core LTL services, the Company offers a range of
value-added services including container drayage, truckload
brokerage, supply chain consulting and warehousing.
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version on businesswire.com: https://www.businesswire.com/news/home/20180430005233/en/
Old Dominion Freight Line, Inc.Adam N. Satterfield,
336-822-5721Senior Vice President - Finance and Chief Financial
Officer
Old Dominion Freight Line (NASDAQ:ODFL)
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