SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: April 1, 2003
(Date of earliest event reported)
USFREIGHTWAYS CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 0-19791 36-3790696
(State or other jurisdiction of (Commission File No.) (IRS Employer
incorporation or organization) Identification Number)
8550 West Bryn Mawr Avenue, Suite 700, Chicago, Illinois 60631
(Address of principal executive offices) (Zip Code)
(773) 824-1000
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Item 5. Other Events.
On April 1, 2003, USFreightways Corporation ("USF") announced that its Chairman,
President and Chief Executive Officer, Samuel K. Skinner intends to retire.
Item 7. Exhibits.
The following is filed as an exhibit to this report.
Exhibit Description
Number
99 News Release, dated April 1, 2003.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the registrant has duly caused this Current Report to be signed on its behalf by
the undersigned hereunto duly authorized.
USFREIGHTWAYS CORPORATION
By: /s/ Richard C. Pagano
_________________
Richard C. Pagano
Senior Vice President, General
Counsel & Secretary
Date: April 1, 2003
EXHIBIT 99
FOR IMMEDIATE RELEASE
CONTACT: Sam Skinner
(773) 824-2307
SKINNER TO RETIRE AS HEAD OF USFREIGHTWAYS
CHICAGO, April 1, 2003 - Sam Skinner today announced he plans to retire as
Chairman, President, and Chief Executive Officer of USFreightways Corporation
after three years at the helm of the $2.5 billion holding company.
Skinner, who turns 65 in June, said "I'm proud of the progress and achievements
of US Freightways during the past three years. We recruited a new generation of
company leadership, exited unprofitable businesses and introduced many new
products. We also consolidated our logistics business, initiated a program to
bring our information technology services up to 21st century standards, and
stabilized our labor situation by negotiating a new 5-year agreement with the
International Brotherhood of Teamsters."
"I'm proud, as well, that we consistently have ranked at or near the top of our
category in Fortune magazine's annual list of most admired companies," Skinner
said.
"With these accomplishments, and looking to the next level of growth, it is only
fair to the company that we seek out a chief executive who can make the
long-term commitment that will be necessary to ensure USFreightways' continued
progress," Skinner said, adding that he now plans to explore different
opportunities that previously he had been unable to pursue.
Skinner said the company would conduct a national search to find the best
available candidate to replace him.
"I want to thank Sam for his dedication and many contributions he has made to
the company over the past three years," said Neil Springer, chairman of the
nominating and corporate governance committee of the USFreightways board of
directors. Specifically, the improvements in the company's information
technology and human resources capabilities will serve as a platform for the
future growth of the company. We wish Sam all the best and hope he enjoys his
retirement."
Before joining USFreightways, Skinner was President of the Commonwealth Edison
Company and its holding company, Unicom Corporation, one of the nation's largest
electric utilities. Prior to that he served as Chief of Staff to President
George H.W. Bush after working three year's in the president's cabinet as
Secretary of Transportation, where he was credited with numerous successes
including the development and passage of landmark legislation in aviation and
surface transportation.
USFreightways Corporation (NASDAQ: USFC) provides a full range of supply chain
management services, offering high-value transportation solutions across North
America through a network of independently operated companies that compete
collectively. USF's five regional trucking companies - USF Bestway, USF Dugan,
USF Holland, USF Red Star, and USF Reddaway provide industry-leading next-day,
regional (USF PremierSM) and national (USF PremierPlusSM) less-than-truckload
services. USF Glen Moore is one of the fastest growing providers of premium
regional and national truckload services. USF Logistics Services is a
full-service provider of transportation management, contract warehousing,
dedicated fleet, cross docking, domestic ocean services and reverse logistics.
USF Technology Services is a provider of information integration and support
services to USF and its customers, including USF Net web-based services. For
more information, visit www.usfc.com.