EXHIBIT 99
NEWS RELEASE
Media Contact: Investor Contact:
Gary Frantz Patrick Fossenier
650-378-5335 650-378-5353
frantz.gary@con-way.com fossenier.patrick@con-way.com
Con-way Announces Management Changes
SAN MATEO, Calif. - August 24, 2010 - Con-way Inc. (NYSE: CNW) announced that
John G. Labrie, president of Con-way Freight, has left the company to pursue
other interests. Effective today, Douglas W. Stotlar, president and CEO of
parent company Con-way Inc., has assumed the role of interim President of
Con-way Freight, the company's less-than-truckload business unit.
Stotlar expects to serve as Con-way Freight's interim president for the next
six to 12 months, during which time Con-way Freight will focus exclusively on
increasing profitability through yield improvement, cost reduction and
operating discipline.
"Con-way Freight has built a 27-year reputation as a premium carrier in all
respects," Stotlar said. "The management changes announced today are intended
to ensure that we retain this position, and that we deliver to our
shareholders, customers and employees the trust, consistent market-leading
performance and sustainable value that have been the foundation of our
success for nearly three decades."
About Con-way -- Con-way Inc. (NYSE:CNW) is a $4.3 billion freight
transportation and logistics services company headquartered in San Mateo,
Calif. A diversified transportation company, Con-way delivers industry-
leading services through three primary operating companies: Con-way Freight,
Con-way Truckload and Menlo Worldwide Logistics. These operating units
provide high-performance, day-definite less-than-truckload and full truckload
freight transportation, as well as logistics, warehousing, multimodal and
supply chain management services, and trailer manufacturing. Con-way Inc. and
its subsidiaries operate from more than 500 locations across North America
and in 20 countries. For more information about Con-way, visit us on the Web
at www.con-way.com.
FORWARD-LOOKING STATEMENTS
Certain statements in this press release constitute "forward-looking
statements" and are subject to a number of risks and uncertainties and should
not be relied upon as predictions of future events. All statements other than
statements of historical fact are forward-looking statements, including: any
projections of earnings, revenues, weight, yield, volumes, income or other
financial or operating items, all statements of the plans, strategies,
expectations or objectives of Con-way's management for future operations or
other future items, any statements concerning proposed new products or
services, any statements regarding Con-way's estimated future contributions
to pension plans, any statements as to the adequacy of reserves, any
statements regarding the outcome of any legal and other claims and
proceedings that may be brought against Con-way, any statements regarding
future economic conditions or performance, any statements regarding strategic
acquisitions, any statements of estimates or belief, and any statements or
assumptions underlying the foregoing. Specific factors that could cause
actual results and other matters to differ materially from those discussed in
such forward-looking statements include: changes in general business and
economic conditions, increasing competition and pricing pressure, the
creditworthiness of Con-way's customers and their ability to pay for services
rendered, changes in fuel prices or fuel surcharges, the possibility that
Con-way may, from time to time, be required to record impairment charges for
goodwill, in tangible assets and other long-lived assets, the possibility of
defaults under Con-way's $400 million credit agreement and other debt
instruments (including without limitation defaults resulting from unusual
charges), uncertainty in the credit markets, including the effect on Con-
way's ability to refinance indebtedness as and when it becomes due, labor
matters, enforcement of and changes in governmental regulations or
legislation which potentially could result in an adverse impact on the
company, environmental and tax matters, and matters relating to Con-way's
defined benefit pension plans, including the effect on the plans of changes
in discount rates and in the value of plan assets. The factors included
herein and in Item 7 of Con-way's 2009 Annual Report on Form 10-K as well as
other filings with the Securities and Exchange Commission could cause actual
results and other matters to differ materially from those in such forward-
looking statements. As a result, no assurance can be given as to future
financial condition, cash flows, or results of operations.