Zollars to retire from embattled YRC

KANSAS CITY — William Zollars, chairman, president and chief executive officer of YRC Worldwide, announced that he will retire upon the completion of YRC comprehensive recovery plan.

Zollars will retain his current positions through the finalization of the process and until a new CEO is named.

YRC has narrowly averted bankruptcy more than once since implementing its comprehensive restructuring plan. While things are improving for the LTL giant, recovery has been painfully slow and by no means guaranteed.

The announcement comes a day before members of the Teamsters begin considering crucial new employee concessions that will help keep the beleaguered carrier afloat.

YRC says the announcement’s timing is unrelated, although there are reports that some Teamster leaders have pushed for his ouster.

"Upon the successful resolution of many of our recent business challenges, the time would be right for me to hand over the reins to new leadership," said Zollars. "We have faced unprecedented challenges and had to deal with the most difficult economic environment our industry has ever experienced."

Zollars, 62, was named to his current position in November 1999.