Central Freight Lines, Inc. Announces Two-Year Contract for Chief Executive Officer Bob Fasso
July 06 2004 - 12:47AM
PR Newswire (US)
Central Freight Lines, Inc. Announces Two-Year Contract for Chief
Executive Officer Bob Fasso WACO, Texas, July 5
/PRNewswire-FirstCall/ -- Central Freight Lines, Inc. (NASDAQ:CENF)
today announced that the company and Chief Executive Officer, Bob
Fasso, have agreed on the terms of a two-year contract for Mr.
Fasso. Central's non-executive Chairman of the Board of Directors,
Jerry Moyes, stated: "The board unanimously approved the terms of a
two-year contract for Bob, and I am personally pleased that Bob and
the board have renewed their joint commitment to restoring Central
to the operating and profitability performance that our customers,
employees, and stockholders expect. Over their careers, Bob and his
team have a history of success in improving the operations of LTL
companies. With the full support of the board, the executive team,
and all of Central's great employees, we expect dramatic
improvements at Central as well." Central's President and Chief
Executive Officer, Bob Fasso, stated: "I look forward to applying
all of my efforts and experience, as well as the valuable insights
of my colleagues, toward making Central a leader in service,
safety, and profitability, and a great place to work. I believe we
have the geographic footprint and the operating plan to succeed. I
also believe in the thousands of dedicated employees at Central,
and I am confident that, working together toward a unified goal, we
can achieve great things." Central Freight Lines, Inc. is a
non-union less-than-truckload carrier specializing in regional
overnight and second day markets. One of the 10 largest regional
LTL carriers in the nation, Central provides regional,
interregional, and expedited services, as well as value-added
supply chain management, throughout the Midwest, Southwest,
Northwest and West Coast. Utilizing marketing alliances, Central
provides service solutions to the Great Lakes, Northeast,
Southeast, Mexico, and Canada. This press release contains
forward-looking statements that involve risk, assumptions, and
uncertainties that are difficult to predict. Statements that
constitute forward-looking statements are usually identified by
words such as "anticipates," "believes," "estimates," "projects,"
"expects," "plans," "intends," or similar expressions. These
statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Such statements
are based upon the current beliefs and expectations of our
management and are subject to significant risks and uncertainties.
Actual results may differ from those set forth in the
forward-looking statements. The following factors, among others,
could cause actual results to differ materially from those in
forward-looking statements: the risk that operational improvements
may be delayed or may not occur at all; the risk that efficiency
and productivity measures, including dynamic resource planning
programs, will be further delayed or will not be successfully
implemented throughout our operations; the risk that significant
geographic expansion has produced or may produce freight
imbalances, customer service issues, operational issues, or other
consequences that we cannot manage successfully on a timely basis
or at all; the risk of personnel changes that may disrupt
operations or delay operational improvements; the risk that
customer service may not improve which may lead to revenue
decreases or difficulty in raising rates; the risk that past
success by members of management may not be indicative of future
success at Central; the risk that safety may not improve and that
our insurance and claims costs will continue to exceed our
expectations; and the risks detailed from time to time in reports
filed by the Company with the Securities and Exchange Commission,
including forms 8-K, 10- Q, 10-K, and our registration statement on
Form S-1. For additional information contact: Robert V. Fasso,
Chief Executive Officer, or Jeff Hale, Chief Financial Officer, at
(480) 361-5295.
http://www.newscom.com/cgi-bin/prnh/20040205/DACENTRALLOGO
http://photoarchive.ap.org/ DATASOURCE: Central Freight Lines, Inc.
CONTACT: Robert V. Fasso, Chief Executive Officer, or Jeff Hale,
Chief Financial Officer, +1-480-361-5295, both of Central Freight
Lines, Inc. Web site: http://www.centralfreight.com/
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