Does silence speak volumes?
Zollars' absence from latest YRC communiqué fuels speculation of imminent departure.
Is YRC Worldwide preparing its stakeholders for the imminent departure of its chairman and CEO, William D. Zollars?
Zollars was conspicuous by his absence from a Feb. 4 company press release announcing its fourth-quarter results. Instead, Sheila Taylor, YRC's executive vice president, CFO, and treasurer, was the executive quoted in the statement. Until now, Zollars had provided the commentary that accompanies YRC's quarterly financial communications.
A YRC spokeswoman did not return a request for comment by press time. Ken Paff, national organizer for the Teamsters for a Democratic Union (TDU), a Teamster dissident group, said unionized YRC employees also interpreted Zollars' absence from the announcement as a sign that the company is ready to move him out.
Last September, YRC and the leadership of the Teamsters union, which represents about 25,000 YRC workers, struck a deal calling for union members to make additional wage and benefit concessions. In return, Zollars, who has run YRC since 1999, would retire once the company's restructuring was completed and a new CEO was named. The rank and file ratified the agreement in late October.
Labor sources said Zollars' departure was a pre-condition to the union's accepting any contract proposals. The company eventually announced that Zollars would retire and that it was looking both within and outside the company for a successor.
About the Author
Executive Editor - News
Mark Solomon has spent 25 years in the transportation, logistics and supply chain management fields as a journalist and public relations professional. From 1989 to 1994, he worked in Washington as a reporter for the Journal of Commerce, covering the aviation and trucking industries, the Department of Transportation, Congress and the U.S. Supreme Court. Prior to that, he worked for Traffic World for seven years in a similar role. From 1994 to 2008, Mr. Solomon ran Media-Based Solutions, a public relations firm based in Atlanta. Mr. Solomon graduated in 1978 with a B.A. in journalism from The American University in Washington, D.C.
More articles by Mark B. Solomon
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