ArcBest Corp. of Fort Smith said Chief Yield Officer Danny Loe was promoted to president of the company's asset-light logistics division as of Sept. 1.
Loe has been the company's chief yield officer since 2017, and the company said he will maintain that position in addition to serving as president of the asset-light division. ArcBest combined its asset-light divisions, which include Panther Premium Logistics, ABF Logistics and ABF Moving, in 2017; it is marketed under the name ArcBest.
Loe's promotion follows the company naming Dennis Anderson chief customer officer in April. Anderson had been chief customer experience officer since 2017.
"With billions of dollars in identified customer and market opportunity available, the combination of yield management and asset-light operations under the leadership of Mr. Loe is part of the company's strategic plan to grow our asset-light business to 50 percent of our overall revenues, and it will accelerate our success in providing comprehensive capacity solutions to our customers' challenges," ArcBest CEO and Chairwoman Judy McReynolds said.
The company reported earnings in late July and said its asset division, ABF Freight, had accounted for about 70% of its revenue in the first six months of 2020. The company reported asset revenue of $975.8 million compared to asset-light revenue of $316.2 million.