Saia EVP and CFO Douglas Col plans to retire after a decade with the LTL carrier, the company announced in a securities filing Friday.
Col will remain in the job he has held for the past four years at Saia until his successor is named, the company said.
He has committed to stay as an advisor through the end of the year to ensure a smooth transition.
“Doug and I both joined Saia in 2014 and we have worked closely together since day one,” Frederick Holzgrefe, Saia’s President and CEO, said in the announcement. “Doug’s diverse background in the transportation space and the perspective he has brought to our organization have been integral in shaping Saia’s emergence as a leading company in the less-than-truckload industry.”
Col was instrumental in leading the Johns Creek, Georgia-based carrier through a “tremendous period of growth and success,” Saia Board Chairman Richard O’Dell said in the announcement.
The company was among the biggest bidders at the Yellow Corp. bankruptcy auction, and it has $1 billion worth of capital expenditures planned this year alone.
“On behalf of the Saia Board of Directors, I wish Doug much success and prosperity as he moves into the next phase,” O’Dell said. “We also sincerely appreciate Doug’s support through the transition to his successor.”
Col said in the announcement it has been a blessing to witness the company’s progress and work with so many talented colleagues for the past decade. The carrier now employs more than 14,000 workers and operates nearly 200 terminals across the country.
“The investments made over the past decade in people, real estate, equipment and technology support a clear strategy, and I look forward to seeing many years of success ahead for Saia, from the sideline!” Col said.
