JOHNS CREEK, Ga., Jan. 04, 2019 (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 it
has named Frederick J. Holzgrefe, III President and Chief Operating Officer, effective immediately and he is appointed a member of
the Board of Directors. Holzgrefe will retain the title of CFO while a search for his successor is conducted.
“Fritz joined Saia in 2014, and quickly assumed the financial leadership role on our management team,” said Saia
CEO, Rick O’Dell. “His financial expertise, operational focus and collaborative leadership style have been critical to the
company’s performance. During his tenure, the company has made meaningful system-wide investments positioning the company for
continued growth while achieving record results and further solidifying Saia’s financial and market position. Fritz’ expanded scope
of responsibilities will be important to leading our on-going operational execution and strategic initiatives in the Northeast and
beyond. It is an honor to pass on the President title to Fritz.”
Holzgrefe joined Saia in 2014 after serving in leadership roles at a leading agricultural processor and
distributor. Additionally, his prior experiences include tenures in food and technology related businesses as well as stints in
banking and financial advisory services. He holds a bachelor's degree in economics from the University of Notre Dame and a masters
of business administration from Washington University in St. Louis, Mo.
“Saia has benefitted from Fritz’s leadership over the last several years,” said Bert Trucksess, Saia’s Chairman
of the Board. “Fritz has been an integral part in advancing the organization and positioning the company for future growth. He
brings a breadth and depth of executive management experience both with Saia and in his earlier career that will be an important
addition to our Board of Directors.”
Saia, Inc. (NASDAQ: SAIA) offers customers a wide range of less-than-truckload, non-asset truckload, expedited
and logistics services. With headquarters in Johns Creek, Georgia, Saia LTL Freight operates 160 terminals in 41 states. For more
information on Saia, Inc. visit the Investor Relations section at www.saiacorp.com.
The Securities and Exchange Commission encourages companies to disclose forward-looking information so that
investors can better understand the future prospects of a company and make informed investment decisions. This news release may
contain these types of statements, which are “forward-looking statements” within the meaning of the Private Securities Litigation
Reform Act of 1995.
Words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “may,” “plan,” “predict,” “believe,”
“should” and similar words or expressions are intended to identify forward-looking statements. Investors should not place undue
reliance on forward-looking statements and the Company undertakes no obligation to publicly update or revise any forward-looking
statements. All forward-looking statements reflect the present expectation of future events of our management as of the date of
this news release and are subject to a number of important factors, risks, uncertainties and assumptions that could cause actual
results to differ materially from those described in any forward-looking statements. These factors, risks, uncertainties and
assumptions include, but are not limited to, (1) general economic conditions including downturns in the business cycle; (2)
effectiveness of Company-specific performance improvement initiatives, including management of the cost structure to match shifts
in customer volume levels; (3) the creditworthiness of our customers and their ability to pay for services; (4) failure to achieve
acquisition synergies; (5) failure to operate and grow acquired businesses in a manner that supports the value allocated to these
acquired businesses, including their goodwill; (6) economic declines in the geographic regions or industries in which our customers
operate; (7) competitive initiatives and pricing pressures, including in connection with fuel surcharge; (8) loss of significant
customers; (9) the Company’s need for capital and uncertainty of the credit markets; (10) the possibility of defaults under the
Company’s debt agreements (including violation of financial covenants); (11) possible issuance of equity which would dilute stock
ownership; (12) integration risks; (13) the effect of litigation including class action lawsuits; (14) cost and availability of
qualified drivers, fuel, purchased transportation, real property, revenue equipment, technology and other assets; (15) the effect
of governmental regulations, including but not limited to Hours of Service, engine emissions, the Compliance, Safety,
Accountability (CSA) initiative, regulations of the Food and Drug Administration, compliance with legislation requiring companies
to evaluate their internal control over financial reporting, Homeland Security, environmental regulations, tax law changes and
potential changes to the North American Free Trade Agreement and to certain international tariffs; (16) changes in interpretation
of accounting principles; (17) dependence on key employees; (18) inclement weather; (19) labor relations, including the adverse
impact should a portion of the Company’s workforce become unionized; (20) terrorism risks; (21) self-insurance claims and other
expense volatility; (22) cost and availability of insurance coverage, including the possibility the Company may be required to pay
additional premiums under its auto liability policy; (23) increased costs of healthcare and prescription drugs, including as a
result of healthcare reform legislation; (24) social media risks; (25) disruption in or failure of the Company’s technology
including services essential to operations of the Company and/or cyber security risk; (26) failure to successfully execute the
strategy to expand the Company’s service geography into the Northeastern United States; and (27) other financial, operational and
legal risks and uncertainties detailed from time to time in the Company’s SEC filings. As a result of these and other factors, no
assurance can be given as to our future results and achievements. A forward-looking statement is neither a prediction nor a
guarantee of future events or circumstances and those future events or circumstances may not occur.
CONTACT: |
Saia, Inc. |
|
Melanie Baker |
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Investors@saia.com |
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770.232.4088 |