FORT SMITH, Ark., Dec. 19, 2014 /PRNewswire/
-- ArcBest Corporationsm (Nasdaq: ARCB), today
announced that David R. Cobb has
been named Chief Financial Officer effective January 1, 2015, while previous CFO Michael E. Newcity takes on a newly created role
as ArcBest Chief Innovation Officer and President of subsidiary
ArcBest Technologies.
"Creating a dedicated center for technology and business
innovation across all of the ArcBest companies will enable us
to continue serving our customers across the supply chain in the
way they expect, with The Skill & The Willsm to
tackle their most complex challenges," said ArcBest President and
Chief Executive Officer Judy R.
McReynolds. "While Michael
Newcity now devotes his sole attention to this area,
David Cobb's experience in finance
and accounting at ArcBest and other companies will ensure a
seamless transition for investors and other financial
stakeholders."
Since 2006, Cobb has served as Vice President – Controller at
ArcBest, adding the duties of Chief Accounting Officer in 2010. The
replacement process for his previous role is underway.
Cobb's experience includes work with multinational and publicly
traded corporations to startup operations in a vast range of
business environments, including fast-growth and acquisition
integrations.
Before joining ArcBest in 2006, he was Vice President –
Controller for Smith International Inc., a publicly held,
international oilfield service company, which is now part of
Schlumberger Limited. He also served seven years with the public
accounting firm of PricewaterhouseCoopers in Houston, Texas.
Cobb, a graduate of Abilene Christian
University, is a Certified Public Accountant in Arkansas and Texas.
Newcity has served as CFO since 2010. In 2013, he became Senior
Vice President and Chief Information Officer as his
responsibilities were expanded to oversee corporate information
technology and economic analysis, which are now part of the ArcBest
Technologies function.
During his 20-plus year tenure with ArcBest, Newcity has been
involved in several strategic, cross-functional initiatives focused
on enterprise-wide advancements in business intelligence,
e-commerce, market research and forecasting and planning. The
company has been recognized for information technology work under
Newcity's direction in a number of publications, including CIO and
InformationWeek.
Newcity began his career with the company in 1993 serving
ArcBest's information technology subsidiary, Data-Tronics Corp.
(now ArcBest Technologies). He also served as Manager of E-Systems
& Market Development and Manager of E-Commerce at ABF
Freightsm and Director of E-Systems & Emerging
Technologies and Director of Economic Analysis at ArcBest.
About ArcBest
ArcBest Corporationsm (Nasdaq: ARCB) solves complex
logistics and transportation challenges. Our companies and brands –
ABF Freightsm, ABF Logisticssm, Panther
Premium Logisticssm, FleetNet
America®, U-Pack® and ArcBest
Technologies – apply the skill and the will with every shipment and
supply chain solution, household move or vehicle repair. ArcBest
finds a way.
For more information, visit arcb.com, abf.com,
pantherpremium.com, fleetnetamerica.com and upack.com. ArcBest
Corporationsm. The Skill & The
Willsm.
Forward-Looking Statements
Certain statements and information in this press release may
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Terms such
as "anticipate," "believe," "could," "estimate," "expect,"
"forecast," "foresee," "intend," "may," "plan," "predict,"
"project," "scheduled," "should," "would" and similar expressions
and the negatives of such terms are intended to identify
forward-looking statements, which are generally not historical in
nature. These forward-looking statements are based on management's
current expectations and beliefs concerning future developments and
their potential effect on us. Although management believes that
these forward-looking statements are reasonable, as and when made,
there can be no assurance that future developments affecting us
will be those that we anticipate. Our forward-looking statements
involve significant risks and uncertainties (some of which are
beyond our control) and assumptions that could cause actual results
to differ materially from our historical experience and
management's present expectations or projections. Important factors
that could cause our actual results to differ materially from those
in the forward-looking statements include, but are not limited to:
general economic conditions and related shifts in market demand
that impact the performance and needs of industries served by
ArcBest Corporation's subsidiaries and/or limit our customers'
access to adequate financial resources; unfavorable terms of, or
the inability to reach agreement on, future collective bargaining
agreements or a workforce stoppage by our employees covered under
ABF Freight's collective bargaining agreement; relationships with
employees, including unions; union and nonunion employee wages and
benefits, including changes in required contributions to
multiemployer pension plans; competitive initiatives, pricing
pressures, the effect of volatility in fuel prices and the
associated changes in fuel surcharges on securing increases in base
freight rates and the inability to collect fuel surcharges;
availability of fuel; default on covenants of financing
arrangements and the availability and terms of future financing
arrangements; availability and cost of reliable third-party
services; disruptions or failures of services essential to the
operation of our business or the use of information technology
platforms in our business; timing and amount of capital
expenditures, increased prices for and decreased availability of
new revenue equipment and decreases in value of used revenue
equipment; future costs of operating expenses such as maintenance
and fuel and related taxes; self-insurance claims and insurance
premium costs; governmental regulations and policies, including
environmental laws and regulations; potential impairment of
goodwill and intangible assets; the impact of our brands and
corporate reputation; the cost, timing and performance of growth
initiatives; the cost, integration and performance of any future
acquisitions; the costs of continuing investments in technology, a
failure of our information systems and the impact of cyber
incidents; weather conditions; and other financial, operational and
legal risks and uncertainties detailed from time to time in ArcBest
Corporation's Securities and Exchange Commission public
filings.
For additional information regarding known material factors that
could cause our actual results to differ from our projected
results, please see our filings with SEC, including our Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K.
Readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date hereof.
We undertake no obligation to publicly update or revise any
forward-looking statements after the date they are made, whether as
a result of new information, future events or otherwise.
Investor Relations
Contact: David Humphrey
|
Media Contact: Kathy
Fieweger
|
Title: Vice President
– Investor Relations
|
Title: Chief
Marketing Officer
|
Phone:
479-785-6200
|
Phone:
479-719-4358
|
Email:
dhumphrey@arcb.com
|
Email:
kfieweger@arcb.com
|
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SOURCE ArcBest Corporation