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Archive for Friday, January 27, 2006

YRC Worldwide CEO signs 5-year deal

January 27, 2006

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Trucking and transportation company YRC Worldwide Inc. on Thursday said its chief executive officer signed an agreement to remain at the company for the next five years.

The agreement increases Bill Zollars' salary by $25,000 to $1 million a year, and his annual bonus increases from 100 percent to 125 percent of annual salary. Zollars, the chairman, president and CEO of the Overland Park-based company, also becomes eligible to receive long-term incentive payments equal to three times his salary if YRC reaches specific financial goals.

The company on Thursday reported fourth-quarter earnings of $79.8 million, or $1.34 per share, on revenue of $2.5 billion. By comparison, the company earned $63.4 million, or $1.24 per share, during the same period a year ago, with revenues of $1.8 billion.

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