ArcBest Corp. Chairman Robert Young III, a former CEO with more than 50 years’ trucking industry service, will retire from that position April 26 and be replaced by current CEO Judy McReynolds, the company announced.
Young, 75, announced his intention to leave after the company’s annual meeting on that date. McReynolds, who has been CEO since 2010, described Young as a “living legend” during the company’s conference call to discuss fourth-quarter earnings.
Young was CEO of the company known then as Arkansas Best Corp. for 18 years before retiring in 2006. He became chairman of the Fort Smith, Arkansas-based company in 2004. He began working in 1964 at Arkansas Best, 13 years after his father, Robert Young Jr., bought Arkansas Best’s first trucking company.
“Robert’s devotion and positive influence on our company have been impactful,” McReynolds said in a statement. “His deep industry knowledge and commitment to doing the right thing have led our company to expand far beyond our regional roots.”
In addition to her ArcBest duties, McReynolds also is chairwoman of the American Transportation Research Institute and a member of American Trucking Associations’ executive committee.
ArcBest, which ranks No. 12 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers, accelerated its expansion outside the less-than-truckload sector with the 2012 purchase of Panther Premium Logistics.
In addition, ArcBest said that Steve Spinner, CEO of United Natural Foods Inc., has been named lead independent director.