Saia Names Holzgrefe President and COO
January 04 2019 - 7:30AM
Saia, Inc. (NASDAQ: SAIA), a leading transportation provider
offering multi-regional less-than-truckload (LTL), non-asset
truckload, expedited and logistics services, announced today that
it has named Frederick J. Holzgrefe, III President and Chief
Operating Officer, effective immediately and he is appointed a
member of the Board of Directors. Holzgrefe will retain the title
of CFO while a search for his successor is conducted.
“Fritz joined Saia in 2014, and quickly assumed
the financial leadership role on our management team,” said Saia
CEO, Rick O’Dell. “His financial expertise, operational focus and
collaborative leadership style have been critical to the company’s
performance. During his tenure, the company has made meaningful
system-wide investments positioning the company for continued
growth while achieving record results and further solidifying
Saia’s financial and market position. Fritz’ expanded scope of
responsibilities will be important to leading our on-going
operational execution and strategic initiatives in the Northeast
and beyond. It is an honor to pass on the President title to
Fritz.”
Holzgrefe joined Saia in 2014 after serving in
leadership roles at a leading agricultural processor and
distributor. Additionally, his prior experiences include tenures in
food and technology related businesses as well as stints in banking
and financial advisory services. He holds a bachelor's degree in
economics from the University of Notre Dame and a masters of
business administration from Washington University in St. Louis,
Mo.
“Saia has benefitted from Fritz’s leadership
over the last several years,” said Bert Trucksess, Saia’s Chairman
of the Board. “Fritz has been an integral part in advancing the
organization and positioning the company for future growth. He
brings a breadth and depth of executive management experience both
with Saia and in his earlier career that will be an important
addition to our Board of Directors.”
Saia, Inc. (NASDAQ: SAIA) offers customers a
wide range of less-than-truckload, non-asset truckload, expedited
and logistics services. With headquarters in Johns Creek, Georgia,
Saia LTL Freight operates 160 terminals in 41 states. For more
information on Saia, Inc. visit the Investor Relations section at
www.saiacorp.com.
The Securities and Exchange Commission
encourages companies to disclose forward-looking information so
that investors can better understand the future prospects of a
company and make informed investment decisions. This news release
may contain these types of statements, which are “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995.
Words such as “anticipate,” “estimate,”
“expect,” “project,” “intend,” “may,” “plan,” “predict,” “believe,”
“should” and similar words or expressions are intended to identify
forward-looking statements. Investors should not place undue
reliance on forward-looking statements and the Company undertakes
no obligation to publicly update or revise any forward-looking
statements. All forward-looking statements reflect the present
expectation of future events of our management as of the date of
this news release and are subject to a number of important factors,
risks, uncertainties and assumptions that could cause actual
results to differ materially from those described in any
forward-looking statements. These factors, risks, uncertainties and
assumptions include, but are not limited to, (1) general economic
conditions including downturns in the business cycle; (2)
effectiveness of Company-specific performance improvement
initiatives, including management of the cost structure to match
shifts in customer volume levels; (3) the creditworthiness of our
customers and their ability to pay for services; (4) failure to
achieve acquisition synergies; (5) failure to operate and grow
acquired businesses in a manner that supports the value allocated
to these acquired businesses, including their goodwill; (6)
economic declines in the geographic regions or industries in which
our customers operate; (7) competitive initiatives and pricing
pressures, including in connection with fuel surcharge; (8) loss of
significant customers; (9) the Company’s need for capital and
uncertainty of the credit markets; (10) the possibility of defaults
under the Company’s debt agreements (including violation of
financial covenants); (11) possible issuance of equity which would
dilute stock ownership; (12) integration risks; (13) the effect of
litigation including class action lawsuits; (14) cost and
availability of qualified drivers, fuel, purchased transportation,
real property, revenue equipment, technology and other assets; (15)
the effect of governmental regulations, including but not limited
to Hours of Service, engine emissions, the Compliance, Safety,
Accountability (CSA) initiative, regulations of the Food and Drug
Administration, compliance with legislation requiring companies to
evaluate their internal control over financial reporting, Homeland
Security, environmental regulations, tax law changes and potential
changes to the North American Free Trade Agreement and to certain
international tariffs; (16) changes in interpretation of accounting
principles; (17) dependence on key employees; (18) inclement
weather; (19) labor relations, including the adverse impact should
a portion of the Company’s workforce become unionized; (20)
terrorism risks; (21) self-insurance claims and other expense
volatility; (22) cost and availability of insurance coverage,
including the possibility the Company may be required to pay
additional premiums under its auto liability policy; (23) increased
costs of healthcare and prescription drugs, including as a result
of healthcare reform legislation; (24) social media risks; (25)
disruption in or failure of the Company’s technology including
services essential to operations of the Company and/or cyber
security risk; (26) failure to successfully execute the strategy to
expand the Company’s service geography into the Northeastern United
States; and (27) other financial, operational and legal risks and
uncertainties detailed from time to time in the Company’s SEC
filings. As a result of these and other factors, no assurance can
be given as to our future results and achievements. A
forward-looking statement is neither a prediction nor a guarantee
of future events or circumstances and those future events or
circumstances may not occur.
CONTACT: |
Saia,
Inc. |
|
Melanie Baker |
|
Investors@saia.com |
|
770.232.4088 |
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