Less-than-truckload carrier Yellow Corp. (NASDAQ: YELL) announced Tuesday the departure of COO T.J. O’Connor and Chief Network Officer Scott Ware. Darrel Harris, who was brought on board in November to head the company’s strategic initiatives, will take over as president.
Harris has 25 years of experience in transportation, most recently leading Yellow’s enterprise transformation to a super regional carrier. The network changes include combining sales, operations, human resources and the company’s separate business units onto one platform.
Prior to joining Yellow, Harris served as the CEO of flooring industry transportation and logistics provider Xpress Global Systems. He has held various roles in sales and operations for carriers CRST International, Vitran and FedEx Freight (NYSE: FDX).
“Darrel is well-positioned to help drive Yellow toward a vibrant future. He brings innovative, exciting ideas and leadership to his new role,” said Darren Hawkins, CEO. “He started his trucking career working the docks, and few are better positioned to understand this industry than those who have worked at all levels. I’m proud to see him in this expanded role.”
Harris will receive a $2 million one-time equity grant, which has a five-year vesting period, in addition to an annual salary of $550,000. He is also eligible for the company’s executive compensation plan.
Harris will pick up some of the responsibilities of O’Connor and Ware.
According to the press release, O’Connor will be retiring. He was named COO in June 2019. He started his career with Roadway in 1982. Yellow acquired Roadway in 2003. During his tenure, O’Connor rose through the ranks, serving as VP of the Western division of Roadway, president and CEO of Reddaway, and president of YRC Freight.
Ware has resigned from Yellow, according to the release. He joined the company in 2007 as VP of linehaul operations at USF Holland, eventually becoming president at Holland. His most recent role, overseeing network solutions, linehaul and property teams, began in 2018.
The company’s CFO role is still being filled on an interim basis, following the resignation of Jamie Pierson in November. Dan Olivier, VP of financial planning and analysis, is filling the role on an interim basis.
“I would like to thank T.J. and Scott for their many years of dedicated service to the Company. Each worked tirelessly on behalf of Yellow. We are grateful for their leadership and we wish them the best,” said Hawkins.
A spokesperson with Yellow also confirmed that Don Hinkle, VP of operations, has retired.
Mark R Whetstine
Wish I could get a government bail out evertime I need money! The union will finish destroying Yellow.
Tcs53
It doesn’t matter who they put in charge,Yellow is so far gone they’re not even a player anymore. Put a fork in ‘em they’re DONE ‼️
Chad C
No wonder Yellow is on the verge of bankruptcy, paying people like that. What makes him so valuable and how much work does he actually do. Think of all the people just under him reporting to him that make half of what he does and still jerking a quarter mill salary. So ridiculous how much the suits think they deserve. Dam they’ll have to take another government loan to cover his salary and bonus. Disgusting!!