Restructured company competitive once more

PR Newswire Press Release

OVERLAND PARK, Kan., July 22, 2011 /PRNewswire -- YRC Worldwide Inc. today announced transportation industry veteran James L. Welch, a former President and CEO of Yellow Transportation, has been named as the company's new Chief Executive Officer. Mr. Welch was appointed CEO, effective immediately, by the new YRC Worldwide Board of Directors today.

"YRC Worldwide is pleased to announce that James L. Welch will lead the newly restructured company forward," said YRC Worldwide Board Chairman James Hoffman. "Mr. Welch brings hands-on institutional knowledge along with an employee and customer-focused approach to a company built on reliability and customer relations. YRC Worldwide is fortunate to have someone with Mr. Welch's skill set at the helm as this company moves forward. His leadership, coupled with the company's new financial liquidity, places YRC Worldwide in a strong position to regain its competitive edge in the transportation marketplace."

Mr. Welch has more than 30 years of experience in the transportation sector, many of those at the senior executive level. He most recently served as President and Chief Executive Officer of Dynamex Inc., a leading provider of same-day transportation and logistics services in the United States and Canada. Mr. Welch began his career with Yellow at the age of 23 and worked his way up to the position of President and CEO (2000-2007), learning every facet of the company's operations along the way.

"This is an exciting and challenging time for YRC Worldwide, and I am pleased to have been chosen to move the company forward," Mr. Welch said. "This restructuring gives YRC Worldwide the liquidity and flexibility to refocus on its historical strengths - unparalleled customer service and transportation excellence. Those are the attributes that made YRC Worldwide the market leader and they will be the focus of this company again under my leadership."

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