YRC Worldwide Inc. on Tuesday announced the resignation of Harry J. Wilson from the trucking company’s board of directors.
Wilson was appointed to the board in 2011 after being nominated by the International Brotherhood of Teamsters. Wilson and his firm, Maeva Group LLC, helped draw up a recently approved series of transactions that substantially reduced YRC’s debt, brought in fresh investment capital and lowered interest payments.
YRC’s 26,000 Teamsters employees earlier this year approved a round of workplace concessions that paved the way for the financial overhaul.
YRC said Wilson asked that his resignation be accepted immediately so the company and union “can identify a new member of the board who has expertise in trucking, supply chain logistics and customer service to take his place.”
The Overland Park trucking company said it will meet with the Teamsters to seek their nomination to fill Wilson’s seat. Under the terms of a 2011 restructuring agreement, the union has the right to nominate two members to YRC’s board. Douglas A. Carty currently serves as one of the two board members.