EXHIBIT 99.1
WERNER ENTERPRISES, INC.
14507 Frontier Road
P. O. Box 45308
Omaha, Nebraska 68145
FOR IMMEDIATE RELEASE Contacts: John J. Steele
- --------------------- Executive Vice President and
Chief Financial Officer
(402) 894-3036
Robert E. Synowicki, Jr.
Executive Vice President and
Chief Information Officer
(402) 894-3000
WERNER ENTERPRISES ANNOUNCES PROMOTION OF GREG
WERNER TO CHIEF EXECUTIVE OFFICER
Omaha, Nebraska, February 8, 2007:
- ---------------------------------
Werner Enterprises, Inc. (Nasdaq: WERN), one of the nation's
largest truckload transportation and logistics companies, today
announced the promotion of Gregory L. Werner to Chief Executive Officer.
He will continue to hold the position of President, which he has held
since 1997.
Greg Werner, 47, joined the Company in 1977 when Werner Enterprises
had 100 trucks. Greg learned the family business from the ground up as
an equipment maintenance mechanic, dispatcher, load planner, driver
recruiter, and treasurer. As the Company's fleet grew rapidly in the
1980's, Greg assumed the critical role of Vice President of Maintenance,
using his expert knowledge of trucks and trailers to keep our fleet
operating at a high level. In 1993, Greg also assumed responsibility
for the Company's Management Information Systems. Under his direction,
Werner's computer systems development, capacity, and redundancy were
greatly enhanced and expanded. In 1994, Greg was elected to the
Company's Board of Directors. In 1997, when the Company had 5,000
trucks and $700 million of annual revenues, Greg became the Company's
President. Greg added the responsibility of Chief Operating Officer in
1999.
Over the last ten years, under Greg's leadership and direction and
with the help of a strong management team and the guidance of his father
Clarence L. (C.L.) Werner, Werner Enterprises expanded the fleet to
9,000 trucks, tripled revenues to $2.1 billion with earnings of nearly
$100 million, built a world class logistics business, and maintained a
strong balance sheet. Greg Werner will succeed C.L. Werner as CEO. The
position of Chief Operating Officer will not be replaced.
Greg will continue to rely on the 30 plus years of valuable
experience and guidance of his brother, Gary L. Werner, 49, who will
remain as the Company's Vice Chairman. Gary joined the Company in 1976
and was promoted to the Company's General Manager in 1980. Gary was
elected to the Company's Board of Directors when it was formed in 1982.
Gary became Vice President in 1982, was promoted to President in 1984,
and was President when the Company went public in 1986 with a fleet of
600 trucks. Under Gary's leadership, Werner Enterprises grew to 5,000
trucks, an over 700% increase, before Greg became President in 1997.
Gary, in his role as Vice Chairman, will continue to actively direct
the Company's purchasing of revenue equipment and strategic planning.
The breadth and depth of the entire Werner executive management
team enable C.L. Werner to step down as CEO of the Company he started in
1956 as a sole proprietor. C.L. was the Company's first driver and built
the Company from a one-man, one-truck operation into a $2 billion public
company. C.L. Werner, 69, who is the Company's largest shareholder with
approximately 30% ownership of the Company's outstanding shares, will
remain an active Chairman of the Board, an officer position he assumed
in 1984.
"Greg, Gary and I have worked closely together growing Werner
Enterprises for the last 30 years", said C.L. Werner. "Other than 50
years ago, this has never been a one-man operation. Early on I
recognized the need to identify and develop a talented management team
to aid in the Company's long-term growth and success. I am extremely
confident of Greg's and Gary's abilities and our entire Werner team. My
health is excellent, and I intend to stay closely involved in the
Company's business, including spending more time on the road visiting
our drivers, terminals, and international operations."
"I would like to thank my father for the outstanding training and
guidance he has provided me, including my last 30 years at Werner
Enterprises," said Greg Werner, who is a 5% shareholder of the Company.
"He taught me the importance of a strong work ethic; he gave me the
opportunity and freedom to develop my talents; and he supported me with
a strong management team. I am very grateful for this opportunity. We
plan to continue to take Werner Enterprises to the next level, building
on the rock solid foundation produced over the last 50 years. With the
support of our outstanding drivers, owner-operators, non-driver
employees, customers, vendors, and shareholders, I am confident that
Werner Enterprises is well positioned for future continued success,"
said Greg Werner.
Werner Enterprises, Inc. was founded in 1956 and is a premier
transportation and logistics company, with coverage throughout the
United States, Canada, Mexico and China. Werner maintains its global
headquarters in Omaha, Nebraska with offices throughout North America
and China. Werner is among the five largest truckload carriers in the
United States, with a diversified portfolio of transportation services
that includes dedicated, medium-to-long-haul, regional and local van
capacity, expedited, temperature-controlled, and flatbed. Werner's Value
Added Services portfolio includes freight management, truck brokerage,
intermodal, load/mode and network optimization and freight forwarding.
Werner is a licensed NVOCC and U.S. Customs Broker.
Werner Enterprises' common stock is traded on The Nasdaq Stock
Market under the symbol WERN. The Werner website address is
www.werner.com.
Note: This press release contains forward-looking statements,
which are based on information currently available. Actual results
could differ materially from those anticipated as a result of a number
of factors, including, but not limited to, those discussed in Item 1A of
the Company's Annual Report on Form 10-K for the year ended December 31,
2005. The Company assumes no obligation to update any forward-looking
statement to the extent it becomes aware that it will not be achieved
for any reason.