Arcbest Corp 8-K, filed Jan 11, 2021
Arcbest Corp /Tx/ (ARCB)
About this 8-K
Arcbest Corp filed this 8-K on January 11, 2021.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549-1004
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): January 11, 2021 (
(Exact name of registrant as specified in its charter)
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(
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Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions.
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ITEM 5.02 – DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
Tim Thorne, the president of ABF Freight System, Inc., the largest subsidiary of ArcBest Corporation (the “Company”), has announced that he will be retiring effective June 30, 2021. Replacing Mr. Thorne upon his retirement will be Seth Runser, currently vice president – linehaul operations.
ITEM 7.01 – REGULATION FD DISCLOSURE
On January 11, 2021, the Company issued a press release announcing that Mr. Thorne will be retiring and naming his replacement. A copy of this press release is furnished as Exhibit 99.1 to this report and incorporated into this Item 7.01 by reference.
The information furnished in this Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
ITEM 9.01 – FINANCIAL STATEMENTS AND EXHIBITS
| Exhibit No. | Description of Exhibit | |
| 99.1* | Press release of ArcBest dated January 11, 2021. | |
| 104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) |
*Furnished herewith.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ARCBEST CORPORATION | |||
| (Registrant) | |||
| Date: | January 11, 2021 | /s/ Michael R. Johns | |
| Michael R. Johns | |||
| Vice President – General Counsel | |||
| and Corporate Secretary | |||
Exhibit 99.1
Media Contact: Josh Havens
Email: jhavens@arcb.com
Phone: 479-494-8125
ABF Freight President Tim Thorne To Retire Later This Year
Seth Runser, currently ABF vice president – linehaul operations, named as successor
FORT SMITH, Arkansas, January 11, 2021 — ArcBest® (Nasdaq: ARCB), a leader in supply chain logistics, today announced that Tim Thorne, president of ArcBest less-than-truckload carrier ABF Freight®, will retire effective June 30, 2021, after a 31-year career with the company.
Seth Runser, ABF vice president – linehaul operations, will be promoted to the new role of ABF chief operating officer, effective Feb. 1, 2021, and will become ABF president on July 1, 2021.
Thorne has been president since October 2014. He joined ABF in 1990 as a supervisor assistant after serving as a captain in the U.S. Army. Prior to becoming president, Thorne held increasing roles of responsibility — as a service center manager in Alabama, Tennessee and Pennsylvania, as a regional vice president – operations in Utah and as vice president – linehaul operations.
“Over the past three decades, Tim has made significant and meaningful contributions to our company as ArcBest has expanded and diversified to meet customers’ needs,” said Judy R. McReynolds, ArcBest chairman, president and CEO. “He has approached each role with integrity, enthusiasm and excellence. I thank Tim for his dedication and longtime service to our organization, and I wish him, his wife Diane and their family the very best. He will be greatly missed.”
Under Thorne’s leadership, ABF ratified a 2018 labor agreement with the International Brotherhood of Teamsters and paid a profit-sharing bonus to eligible union employees for the first time in its nearly 100-year history.
“We have the very best people in the business, and it has been a great honor to serve as president of ABF,” Thorne said.
Runser, 36, joined the company in 2007 as a management trainee in Cleveland, Ohio. He has moved around the country, living in Youngstown, Ohio; Dallas, Texas; Akron, Ohio; Baltimore, Maryland; and Kansas City, Missouri, before relocating to the corporate headquarters in Fort Smith, Arkansas. Seth has extensive experience, having served as operations supervisor, regional training specialist, service center manager and regional vice president – operations before assuming his current role.
“Seth is a goal-oriented and values-driven leader who has a deep knowledge of our freight operations,” McReynolds said. “He will work to facilitate growth and ensure our ABF team continues its strong commitment to quality and providing a great customer experience. Tim and Seth will work closely in the coming months to ensure a smooth transition, and I am confident Seth will lead the team to continued success.”
A native of Ohio, Runser holds a bachelor’s degree in marketing from Kent State University.
“I am truly honored to be the next president of ABF, and I’m grateful to Judy for the confidence she has placed in me and to Tim for his leadership and support,” Runser said. “We have a proud history and are well positioned for the future. I’m excited to work with our team to achieve great things.”
ABF is a leading LTL carrier, operating over 240 service centers across North America.
ABOUT ARCBEST
ArcBest® (Nasdaq: ARCB) is a leading logistics company with creative problem solvers who deliver innovative solutions for our customers’ supply chain needs. We’ll find a way to deliver knowledge, expertise and a can-do attitude with every shipment and supply chain solution, household move or vehicle repair. At ArcBest, we’re More Than Logistics®. For more information, visit arcb.com.
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