Central Freight Lines (NASDAQ:CENF)
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From Jul 2019 to Jul 2024
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
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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/