YRC Worldwide Announces Re-Entry Into Union Pension Plans

YRC has announced its re-entry into union pension plans, with the formation of joint committees made up of representatives from YRC and the Teamsters Union

. The joint committees will address YRC's competitiveness and re-entry into union pension plans.

In addition, the Teamsters Union has nominated Teresa Ghilarducci to join YRC's Board of Directors. Ghilarducci's nomination is in conjunction with the most recent Memorandum of Understanding between the union and the less-than-truckload giant.

"The self-help recovery that the company and union accomplished together has stabilized the business and put us back on the path to success," said Bill Zollars, chairman, president and CEO of YRC Worldwide. "As customers continue to increase their business with YRC Worldwide, and the company returns to profitability, these efforts will provide further momentum as we focus on additional improvements to solidify the company's industry leading position."

Ghilarducci is a professor of economics and the Bernard L. and Irene Schwartz professor of economic policy analysis in the Department of Economics at the New School for Social Research, New York.

Upon Ghilarducci's election, Carl W. Vogt will resign from the board as previously announced.