Old Dominion Freight Line Promotes Two Officers to Senior Vice President
Names Marty Freeman Senior Vice President of Sales and Chip Overbey Senior Vice President of Marketing, Pricing and Strategic Development
THOMASVILLE, N.C.--(BUSINESS WIRE)-- Old Dominion Freight Line, Inc. (NASDAQ: ODFL) today announced the promotion of Kevin M. "Marty" Freeman to Senior Vice President of Sales and Cecil "Chip" E. Overbey, Jr. to Senior Vice President of Marketing, Pricing and Strategic Development. Mr. Freeman had been Vice President of Field Sales, and Mr. Overbey was Vice President of National Accounts and Marketing. In addition to these changes, Greg C. Gantt, Senior Vice President of Operations, will assume additional responsibilities in the areas of corporate and field services. All three of these individuals formerly reported to John B. Yowell, Executive Vice President and Chief Operating Officer, who recently passed away. Each will now report to David S. Congdon, Old Dominion's President and Chief Executive Officer.
Mr. Congdon commented, "We congratulate Marty and Chip on their promotions and are confident of their ability to excel in their expanded areas of responsibility. Both of these individuals bring vast experience to their new positions, Marty having served 20 years within the OD sales organization and Chip having served 15 years within the OD sales and marketing organizations. We are equally confident in Greg's ability to assume additional responsibilities in his current role. These promotions and the overall reassignment of responsibilities are consistent with our board-approved succession plan for executive officers and reflect our commitment to strong corporate governance. As a result, we have three proven executives in Marty, Chip and Greg, with outstanding performance records at Old Dominion and whom we expect to make further significant contributions to the Company's long-term growth."
Forward-looking statements in this news release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties that could cause actual events and results to be materially different from those expressed or implied herein, including, but not limited to, the following: (1) the competitive environment with respect to industry capacity and pricing, including fuel surcharges; (2) our ability to collect fuel surcharges and the effectiveness of those fuel surcharges in mitigating the impact of fluctuating fuel prices; (3) the negative impact of any unionization of the Company's employees or the passage of legislation or administrative rules that could facilitate unionization; (4) the challenges associated with executing the Company's growth strategy; (5) changes in the Company's goals and strategies, which are subject to change at any time at the discretion of the Company; (6) various economic factors such as economic recessions and downturns in customers' business cycles and shipping requirements; (7) the Company's exposure to claims related to cargo loss and damage, property damage, personal injury, workers' compensation, long-term disability and group health as well as the cost of insurance coverage above retention levels; (8) the availability and cost of capital for the Company's significant ongoing cash requirements; (9) the availability and cost of new equipment; (10) our ability to attract and retain qualified drivers; (11) the decrease in demand and market value of used equipment; (12) the availability and cost of diesel fuel; (13) the costs of compliance with, or liability for violation of, existing or future governmental regulation; (14) seasonal trends in the industry, including the possibility of harsh weather conditions; (15) the Company's dependence on key employees; (16) the negative impact of potential future changes in accounting practices; (17) the impact caused by potential disruptions to our information technology systems; and (18) other risks and uncertainties indicated from time to time in the Company's filings with the Securities and Exchange Commission.
Old Dominion Freight Line, Inc. is a less-than-truckload multi-regional motor carrier providing one-to-five day service among six regions in the United States and next-day and second-day service within these regions. Through its four product groups, OD-Domestic, OD-Expedited, OD-Global and OD-Technology, the Company offers an array of innovative products and services that provide direct service to 48 states within the Southeast, Gulf Coast, Northeast, Midwest, Central and West regions of the country. In addition to domestic less-than-truckload services, the Company offers assembly and distribution services as well as container delivery services to and from all of North America, Central America, South America and the Far East. The Company also offers a broad range of expedited and logistical services for both its domestic and global markets.
Source: Old Dominion Freight Line, Inc.
Released January 5, 2011