CNF Inc., Palo Alto, Calif., announced a series of executive changes, a cash dividend and quarterly financial results this week.

At the top of the personnel changes, CNF said that Kevin C. Schick has been named senior vice president and chief financial officer. The appointment is effective March 31, 2005, upon the previously announced retirement of Chutta Ratnathicam, who has served as the company's top financial executive since 1997.
Schick, 53, has been vice president and controller of Con-Way Transportation Services, the company's $2.6 billion regional trucking and supply chain subsidiary since 1989.
In addition, Gary S. Cullen has been promoted to vice president, deputy general counsel and assistant secretary of CNF Inc., and C. Randal Mullett has been promoted to vice president of government relations.
Cullen is responsible for corporate governance and securities issues, regulatory disclosures, and legal financial issues. He reports to CNF's Senior Vice President, General Counsel and Corporate Secretary, Jennifer W. Pileggi.
As vice president of government relations, Randy Mullett works with state and federal elected government officials, transportation industry officials and trade associations to communicate CNF's position on various issues to government officials and regulators. He also serves as CNF's point man for homeland security. He reports to James R. Allen, vice president of public affairs and corporate communications.
In other action, the CNF board of directors declared a cash dividend of 10 cents per share on the company's common stock. The dividend is payable on March 15, 2005, to shareholders of record as of Feb. 15, 2005.
Meanwhile, the company reported fourth-quarter 2004 after-tax income from continuing operations of $41.1 million, or 74 cents per diluted share, up 19%. This compares with fourth-quarter 2003 after-tax income from continuing operations of $34.5 million, or 63 cents per diluted share.
For the full-year 2004, CNF reported after-tax income from continuing operations of $142.2 million (after preferred stock dividends), or $2.57 per diluted share, up 27%, and after-tax income from discontinued operations of $12.4 million, or 22 cents per diluted share. This compares with 2003 after-tax income from continuing operations of $112.2 million, or $2.07 per diluted share, and an after-tax loss from discontinued operations of $28.5 million, or 50 cents per diluted share.
Revenue from continuing operations in 2004 totaled $3.7 billion, up 15% from $3.2 billion in 2003. Operating income totaled $284.2 million, up 26% from $224.9 million in 2003.