Patrick Hanley, a longtime senior trucking finance executive, announced his retirement from the Old Dominion Freight Line board of directors, the company said in a securities filing last week.
He informed the LTL carrier on June 22 of his retirement, effective immediately, according to the filing.
“Mr. Hanley’s decision to retire from the Board was not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices,” the company said in the filing.
Hanley’s contributions to the board included “significant knowledge in the management and oversight of public companies and significant leadership experience in accounting, finance and human resources within the trucking industry,” according to a bio that has since been removed from the Old Dominion website.
The filing didn’t indicate any plans to replace Hanley on the board. The following day, Old Dominion reduced the size of its board to 10 directors, the filing said.
Hanley, a former Overnite Transportation and UPS Freight finance senior vice president, served on the Old Dominion board since 2016. Prior to joining Overnite, he previously worked in finance roles at Union Pacific Resources Group and Union Pacific Corp.
He also has served on the boards of directors of NewMarket Corp., which develops, manufactures, blends and delivers chemical additives to petroleum products, and Xenith Bankshares. He was previously also chairman of the board of privately-held Gallium Technologies, where he once worked as president and CEO.
Hanley’s departure came eight days before a major changing of the guard in the LTL carrier’s C-suite.
CEO Greg Gantt is retiring Friday after 28 years with Old Dominion, with COO Marty Freeman taking over the job July 1. Gregory Plemmons, SVP of sales, will succeed Freeman as COO. Meanwhile, David Bates, former SVP of operations, left Old Dominion for XPO in the process.
