JOHNS CREEK, Ga., March 06, 2020 (GLOBE NEWSWIRE) -- Saia, Inc. (NASDAQ: SAIA), a leading transportation provider offering multi-regional less-than-truckload (LTL), non-asset truckload, expedited and logistics services, announced today that its Board of Directors has approved a planned leadership transition that provides continuity in executive leadership to support the Company’s long term strategy. Effective April 28, 2020, Fritz Holzgrefe will become President and Chief Executive Officer. Rick O’Dell, Saia’s CEO since 2006, will remain with the Company assuming the role of non-executive Chairman of the Board of Directors. After 28 years of affiliation with Saia, current Board Chairman, Bert Trucksess, will relinquish his chairmanship duties and retire from the Board.
“As part of the Saia long range talent acquisition and succession planning, Fritz joined the Company as Chief Financial Officer in 2014 and transitioned to the role of President and Chief Operating Officer in January 2019. Today I would like to congratulate Fritz on his appointment as President and Chief Executive Officer. Under Fritz’s leadership, we expect to continue to build upon Saia’s record of success,” Trucksess said. “I would also like to thank Rick O’Dell for leading Saia’s growth from a regional LTL carrier into a leading national LTL provider with revenues approaching $1.8 billion in 2019 and with over 10,000 employees. I note that the market cap of the Company has grown from $275 million in 2006 to approximately $2.2 billion today. Most importantly, this success results from a strict adherence to the Company’s values, culture and customer-first approach.”
“Saia’s record of success has been built on a foundation of consistently providing high quality and timely service to our customers,” O’Dell said. “Our ability to develop strong customer relationships is really the result of the commitment made by our entire Saia team each day. This culture at Saia is rooted in core values developed over a 95-year history and which remain essential to our current and future success. It has been an honor to serve as the CEO of Saia and I will serve as the Chairman of the Board with great enthusiasm. The Board and I are confident in Fritz’s abilities and that he is the right person to lead and build this organization as we pursue our goal of excellence for all of our stakeholders.”
“I have had the honor of working with Bert Trucksess for over two decades,” O’Dell continued. “His professionalism, dedication and leadership have been instrumental in my professional development and the Company’s growth and success. On behalf of the Board and everyone at Saia, I would like to express our gratitude to Bert for his many contributions and wish him well.”
“I am humbled by the opportunity to lead our dynamic organization,” said Holzgrefe. “Saia’s success under Bert and Rick’s leadership is unquestioned and with a constant focus on the customer, I look forward to keeping Saia on a path of continued growth and improving profitability, benefitting all of our stakeholders. I look forward to working with Rick, our Board and all of our employees as we move from our first century of success into our next,” concluded Holzgrefe.
Holzgrefe joined Saia in 2014 after serving as chief financial officer and leading the international division of a large commodity processing and distribution business. Since joining Saia, Holzgrefe served as CFO and has assumed leadership for the Company’s pricing, real estate, maintenance and properties, before assuming leadership of the operations organization in 2019. His earlier career included tenure in industrial and food processing businesses along with financial advisory services and commercial banking.
About Saia, Inc.
Saia, Inc. (NASDAQ: SAIA) offers customers a wide range of less-than-truckload, non-asset truckload, expedited and logistics services. With headquarters in Georgia, Saia LTL Freight operates 169 terminals in 44 states. For more information on Saia, Inc. visit the Investor Relations section at www.saiacorp.com.
