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Pacer Announces Changes to Organization

Dépèche transmise le 5 mai 2009 par Business Wire

Pacer Announces Changes to Organization

CONCORD, Calif.--(BUSINESS WIRE)--Pacer International, Inc. (Nasdaq: PACR), a leading North American freight transportation and logistics provider, announced several key executive changes that will further focus on Pacer’s core door-to-door intermodal and trucking services, while streamlining its organization.

“After two very challenging quarters for our industry and our company, we are announcing a number of aggressive actions we have taken to restructure our company to more effectively overcome the economic and competitive challenges we are facing,” said Michael E. Uremovich, chairman and CEO of Pacer.

“A key element in our restructuring plan is to reduce Selling, General and Administrative (SG&A) costs by 20-25 percent, putting Pacer at a more competitive level with our facing competition. Actions taken to date in 2009 will allow us to achieve half of this SG&A reduction goal on a go-forward basis. Within the next 90 days the remaining required cost reductions and plans for their implementation will be identified and developed. In addition, we have implemented initiatives focused on process reengineering, improved pricing effectiveness, and greater rail and drayage network efficiency, which will further reduce our SG&A cost and improve our overall margins.”

Pacer has made the following appointments:

Dan Avramovich has been appointed chief operating officer. To more efficiently align Pacer’s core transportation and logistics services, Mr. Avramovich will be responsible for the day-to-day leadership of Pacer’s retail and wholesale intermodal service units, as well as the highway brokerage, supply chain, and warehousing service units. Mr. Avramovich will report to Mr. Uremovich. Previously Mr. Avramovich was retail intermodal services president.

Adriene Bailey has been appointed chief commercial officer and will report to Mr. Avramovich. Ms. Bailey will be responsible for all commercial activities for Pacer’s intermodal, highway, supply chain, and warehousing services, as well as coordinating all cross business opportunities with Pacer’s international and heavy-haul trucking operating units. Previously Ms. Bailey was wholesale intermodal services president.

Peter Baumhefner has been appointed executive vice president, operations and will now report to Mr. Avramovich. Mr. Baumhefner will be accountable for further integrating and synchronizing Pacer’s drayage and warehousing operations with Pacer’s intermodal rail and terminal network operations. Previously Mr. Baumhefner was executive vice president, operations, Pacer Stacktrain, Inc.

Frank Sutherland has been appointed executive vice president, network services. Mr. Sutherland, who will continue to report to Mr. Avramovich, will be accountable for unifying the customer support, network logistics, and pricing organizations within Pacer’s customer-centric service management process. Previously Mr. Sutherland was vice president, service & yield management, Pacer Transportation Solutions, Inc.

Michael Killea,executive vice president and general counsel, will now also have accountability for human resources and cargo claims in addition to the legal and risk management functions. Mr. Killea will continue to report to Mr. Uremovich. Mr. Killea’s title has not changed.

Commenting on the new structure, Uremovich added, “These changes will simplify our organization and centralize day-to-day accountabilities. We are committed to streamlining our operations while ensuring that customers will continue to receive the best-in-class door-to-door transportation services they have come to expect from Pacer.”

ABOUT PACER INTERNATIONAL (www.pacer.com)

Pacer International is a leading asset-light North American freight transportation and third-party logistics provider, and through its intermodal and logistics operating segments, offers a broad array of services to facilitate the movement of freight from origin to destination. The intermodal segment offers wholesale services provided by Pacer Stacktrain (cost-efficient, two-tiered rail transportation for containerized shipments) and Pacer Cartage (local trucking), as well as retail services through its Rail Brokerage unit (intermodal marketing). The logistics segment provides retail truck brokerage, trucking, warehousing and distribution, international freight forwarding, and supply-chain management services. Pacer International is headquartered in Concord, California. Its intermodal and logistics operating segments are headquartered in Concord, California, and in Dublin, Ohio, respectively.