by Marty Cook
Posted 4/23/2014 11:12 am
Updated 8 months ago
Arkansas Best Corp. of Fort Smith named Danny Loe as its new vice president of enterprise customer solutions, replacing Jim Keenan, who retired after 33 years with the company March 31.
Loe will assume his duties beginning May 1. Loe has been with Arkansas Best for 17 years, and has been the company’s vice president of yield management for ABF Freight since 2010.
The enterprise customer solutions department was created in November 2013 to increase sales in Arkansas Best’s Freight, Logistics and Panther Expedited Services divisions.
"Danny’s deep experience in pricing analytics, combined with a strong knowledge of our customers’ needs, will be very valuable in his new role as we look to better serve our customers across the supply chain and particularly drive additional sales of multiple services across ABF Freight, ABF Logistics and Panther," CEO Judy McReynolds said in a statement.
Arkansas Best also announced Eddie Sorg would replace Loe as the vice president of yield management. Sorg, a 19-year veteran of the company, is being promoted from director of pricing.
The company introdued Loe at its shareholders meeting Wednesday at its office on Old Greenwood Road in Fort Smith.
At the meeting, shareholders re-elected nine board members, ratified Ernst & Young LLP as the company’s accounting firm for 2014 and approved an advisory vote on executive compensation.
During the meeting, McReynolds said the emerging story for the company was the growth of the Arkansas Best’s non-asset divisions. Panther Expedited, Logistics and the maintenance department of FleetNet helped generate a $572 million, a quarter of the company’s $2.3 billion revenue in 2013.
Four years ago, McReynolds said the divisions made up just seven percent of the company’s revenue.
McReynolds also said the ratification of an agreement with the Teamsters in late 2013 would see between $55 and $65 million in savings, 75 percent of which was realized in 2013. The rest of the savings would be realized by the end of 2015.
"The growth prospects for our company are very exciting," McReynolds said. "2014 and beyond is going to be a good year for our company."