Another top executive leaves YRC
Gaines, freight unit's CFO, departs for similar post with fast-food concern.
Another top-level executive has left less-than-truckload carrier YRC Worldwide Inc., though his departure was on his own terms rather than on the company's.
Phil Gaines, a 23-year YRC veteran who was the senior vice president and chief financial officer of the company's YRC Freight long-haul unit, resigned late last week to become CFO at KBP Foods, a company that operates fast-food franchises, a spokeswoman for YRC confirmed. YRC and KBP are both headquartered in Overland Park, Kan.
â€¨The spokeswoman said Gaines left on "excellent terms" with YRC.
Gaines will be succeeded by Tom Palmer, who had been CFO of Reddaway, one of YRC's three regional LTL units. Reddaway operates mostly in the Pacific Northwest.
Gaines joined the YRC organization in 1989 and at one point served as president of Yellow Transportation, YRC's long-haul trucking unit that was integrated into Roadway Express, a carrier that Yellow bought in 2003. The unit was renamed YRC National, and then YRC Freight.â€¨
Gaines is the latest high-level executive to leave YRC since James L. Welch became president and CEO last summer. Paul Liljegren, who was senior vice president-finance, corporate controller, and chief financial officer, resigned in late March.
Previously, Welch eliminated the positions of chief marketing officer, chief administrative officer, and chief operating officer in an effort to streamline the organization.
About the Author
Executive Editor - News
Mark Solomon joined DC VELOCITY as senior editor in August 2008, and was promoted to his current position on January 1, 2015. He has spent more than 30 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. He graduated in 1978 with a B.A. in journalism from The American University in Washington, D.C.
More articles by Mark B. Solomon
- Transport déjà vu beckons as EC launches in-depth probe of FedEx-TNT deal
- For UPS, Coyote purchase is all about smoothing out the network wrinkles
- Senate passes six-year transport funding plan with new freight, multimodal initiatives
- UPS expands "Access Point" network to add 100 U.S cities by end of summer
- eBay shuts down same-day delivery service
Join the Discussion
After you comment, click Post. If you're not already logged in, you will be asked to log in or register.
Feedback: What did you think of this article? We'd like to hear from you. DC VELOCITY is committed to accuracy and clarity in the delivery of important and useful logistics and supply chain news and information. If you find anything in DC VELOCITY you feel is inaccurate or warrants further explanation, please ?Subject=Feedback - : Another top executive leaves YRC">contact Chief Editor David Maloney. All comments are eligible for publication in the letters section of DC VELOCITY magazine. Please include you name and the name of the company or organization your work for.