Central Freight's Hall Retires As Carrier Thrives
January 28, 2000
Central Freight Lines president Joe Hall has retired and has been replaced in the interim by board member Ronald Moyes.
Moyes, with his brother and Swift Transportation co-founder Jerry Moyes, saved the Texas carrier from a likely shutdown when he assembled the team that bought it from Caliber Systems. Jerry Moyes told the Waco Tribune-Herald that Hall's family has experienced health problems and Hall decided to "retire and enjoy golf and his health while he could."
Central's financial performance has improved markedly since the 1997 buyout. It had record revenues in the current fiscal year and revenues will be over $300 million at year-end. A public offering of 5 million shares that Central announced in May has been postponed due to its acquisitions of Aggie Express, Jaguar Fast Freight, and Vecta, and will likely take place next year, Jerry Moyes said.