Board of Director Biographies
Robert A. Young III,
Chairman, Arkansas Best Corporation
Mr. Young has been a Director of the Company since 1970 and
Chairman of the Board since July 2004. He was Chief Executive Officer of the Company
from August 1988 until his retirement in January 2006. He was President of the Company
from 1973 to 2004 and was Chief Operating Officer of the Company from 1973 to 1988.
Mr. Young served as President of ABF Freight System, Inc., the Company’s largest
subsidiary (“ABF”), from 1979 to 1994. Between 1964 and 1973, he worked as Supervisor
of Terminal Operations for ABF; Vice President–General Manager of Data-Tronics Corp., a
Company subsidiary; Senior Vice President–National Bank of Commerce of Dallas; and as
Vice President, Finance and Executive Vice President of the Company. Mr. Young was a
Director of Treadco, Inc. from June 1991 to June 1999. Treadco, Inc. was a publicly held
company from 1991 to 1999. The Company owned more than 40% of the outstanding stock
of Treadco, Inc. from 1991 to 1999, when the Company purchased all remaining
outstanding stock via a tender offer. Substantially all operations of Treadco were disposed
of in 2000.
Serving the Company and ABF in executive and Board positions over the past four decades,
Mr. Young has become an acknowledged leader in transportation and finance. He was a
member of the Board of the Federal Reserve Bank (“Reserve Board”) of St. Louis, Little
Rock Branch, from July 2004 until his retirement from the Reserve Board on December 31,
2011. After 49 years in the trucking industry and 42 years on the Company’s Board, he
provides strong leadership through his background in LTL transportation, mergers and
acquisitions, investment banking, private equity, labor and personnel selection and
Judy R. McReynolds,
President and Chief Executive Officer, Arkansas Best Corporation
Ms. McReynolds has been a Director of the Company and President and
Chief Executive Officer since January 1, 2010. She served as Senior Vice President–Chief
Financial Officer and Treasurer from February 2006 through December 2009. She was Vice
President–Controller of ABC from January 2000 until January 31, 2006. She previously
served as the Controller of the Company from July 1998 until December 1999.
Ms. McReynolds joined the Company as Director of Corporate Accounting in June 1997.
Ms. McReynolds has been a member of the Board of Directors of OGE Energy Corp. since
July 2011 and serves on its Compensation Committee and Nominating and Governance
Committee. She has served on the Transportation Industry Council of the Federal Reserve
Bank of St. Louis since June 2012.
As the only member of the Company’s senior management who serves on the Board,
Ms. McReynolds provides significant industry-specific experience and unique expertise on
both Arkansas Best Corporation and ABF Freight System, Inc. services, resulting from a 15-
year tenure with the Company and 23 years of financial experience in the less-thantruckload
(“LTL”) and truckload trucking industry. Her experience as Chief Financial Officer, Certified
Public Accountant, Controller, and currently as Chief Executive Officer,
have contributed to the Board’s insights in LTL and truckload transportation knowledge,
labor and pension matters, investment and corporate banking, financial analysis, strategic
planning, appropriate capital structures and shareholder value.
John H. Morris
Mr. Morris has been a Director of the Company since July 1988 and was
a Director of Treadco, Inc. from June 1991 to June 1999. Mr. Morris was affiliated with
StoneCreek Capital, a private equity firm, from 1992 to 2008. Mr. Morris served as a
Managing Director of Kelso & Company, Inc., a private equity firm, from March 1989 to
March 1992, was a General Partner from 1987 to March 1989 and prior to 1987, was a Vice
President. Prior to 1985, Mr. Morris was President of LBO Capital Corp. Previous work
experience includes Booz, Allen and Hamilton, three years with the First National Bank of
Atlanta and nine years with Touche Ross & Co., a predecessor of Deloitte and Touche, as a
management consultant. After leaving Touche Ross, he joined Kelso & Company (“Kelso”),
a boutique private equity firm in 1982. While with Kelso, he was responsible for several
large buyouts, including Spectramed, IHOP, Arkansas Best Corporation, and Landstar
Systems, and served on the committee that approved all Kelso acquisitions. Mr. Morris’s
public board experience includes, in addition to Arkansas Best Corporation and Treadco,
Inc., Spectramed, Inc. and Landstar Systems. Mr. Morris received a Bachelor of Industrial
Engineering degree from Georgia Tech and an M.B.A. in Finance from Georgia State
University. He received a CPA Certificate from the State of Georgia in 1974.
Mr. Morris has extensive experience in mergers and acquisitions, including the analysis of
acquisitions, private equity investing and business and financial structures. He has other
public transportation company-related board service as described above. Knowledgeable in
investment banking and LTL transportation, Mr. Morris has provided consulting services to
companies for over 10 years and has been involved in more than 40 acquisitions through his
roles at Kelso & Co. and StoneCreek Capital. Currently, a member of the ABC Board
Nominating/Corporate Governance Committee and the Compensation Committee,
Mr. Morris’s Board expertise also includes the area of executive and director compensation,
corporate governance, director nominations and audit.
William M. Legg
Mr. Legg has been a Director of the Company since April 2002. He
retired from Deutsche Banc Alex.Brown, an investment banking firm (“Alex.Brown”), as
Managing Director, in 2002. During his 31 years at Alex.Brown, he served as Head of
Alex.Brown’s Transportation Group and Co-Head of Alex.Brown & Sons, Inc.’s Corporate
Finance Department. Mr. Legg and his group executed initial public offerings for many
logistics companies including: Viking Freight, MS Carriers, Werner Enterprises, J.B. Hunt,
Swift, Old Dominion, CH Robinson, and Hub Group. Mr. Legg worked on transportationrelated
transactions for Deutsche Post, PepsiCo, ARA Services, Transport Development
Group and the Company. Mr. Legg earned a B.A. from Trinity College and an M.B.A from
Loyola College. Prior to joining Alex.Brown in 1971, he served as an officer in the United
Mr. Legg brings to the Board significant investment banking experience, including finance,
private equity, mergers and acquisitions, capital structures and strategic planning. His
contributions to the Board include in-depth knowledge of other transportation companies
and industry subsets. His years in transportation-related finance bring valuable analytical
transportation knowledge to the Board. Mr. Legg has experience in executive compensation,
governance, and director nomination matters. He is the Board’s Compensation Committee
Chairman and is a member of the Board’s Nominating/Corporate Governance Committee.
Fred A. Allardyce
Mr. Allardyce has been a Director of the Company and the Board’s
Audit Committee Financial Expert since February 2004. Mr. Allardyce has been Chairman
and Chief Executive Officer of Advanced Breath Diagnostics since March 2000 and
Chairman of Monitor Instruments since September 2000. Advanced Breath Diagnostics is a
development-stage medical diagnostic company and Monitor Instruments is a development-stage
scientific instrument company. From 1977 through 1999, he was employed by
American Standard Inc., a publicly traded company, where he served in the following
positions: Senior Vice President–Medical Products from January 1998 until November
1999; Chief Financial Officer from 1992 to 1997; Controller from 1983 to 1991; and
Assistant Controller from 1977 to 1982. He also served in various financial-related
capacities for Joseph E. Seagram & Sons from 1972 to 1977 and at Continental Oil
Company from 1965 to 1972. Mr. Allardyce earned a B.A. in Economics from Yale
University and an M.B.A. from the University of Chicago Graduate School of Business,
where he was the recipient of the Institute of Professional Accountants Fellowship.
Mr. Allardyce was Chairman in fiscal 1999–2000 of Financial Executives International, a
15,000-member organization of financial leaders.
Mr. Allardyce has extensive accounting and auditing experience in public and private
organizations and has a strong background in financial controls and reporting, financial
management, financial analysis, acquisitions, entrepreneurship and investment banking,
including finance and private equity. A former chief financial officer and controller of a
public company, his skills also include preparing financial reports, maintaining internal
controls and overseeing financial reporting. Mr. Allardyce is Chairman of the Board’s Audit
Committee and is the Audit Committee’s Financial Expert.
John W. Alden
Mr. Alden has been a Director of the Company since May 2005. Mr. Alden retired as Vice
Chairman of United Parcel Service of America, Inc. (“UPS”) in 2000. From 1988 until his
retirement from UPS, he served as a Director of UPS. Mr. Alden worked for UPS for
35 years in various capacities. Currently, Mr. Alden is also a Director of Barnes Group, Inc.,
Dun & Bradstreet Corporation and Silgan Holdings, Inc.
As Vice Chairman and Senior Vice President–Business Development of UPS, Mr. Alden
led a global public transportation company and public company board. Through his 35 years
at UPS, he gained expertise in the areas of sales and marketing, operations, customer
service, management, senior management, business development and public company board
strategic planning and oversight. Mr. Alden, Chairman of the Board’s Nominating/
Corporate Governance Committee and member of the Board’s Compensation Committee,
has served on seven boards over the past 20 years.
Steven L. Spinner
Mr. Spinner has been a Director of the Company since July 2011.
Mr. Spinner has been President and Chief Executive Officer and a member of the Board of
Directors of United Natural Foods, Inc. (“UNFI”) since September 2008. Prior to joining
UNFI in 2008, he was a Director and Chief Executive Officer of Performance Food Group
Company (“PFG”) from October 2006 to May 2008 and PFG’s President and Chief
Executive Officer from May 2005 to May 2008. He was the Senior Vice President and
Chief Executive Officer of PFG’s Broadline Division (“Broadline”) from February 2002 to
May 2005 and Division President of Broadline from August 2001 to February 2002.
Mr. Spinner provides the insight and knowledge that comes from years of senior-level
executive management, logistical experience and knowledge of network businesses. His
background has given him extensive experience in the wholesale food distribution business,
which includes overseeing the organic and acquisition growth of a food distribution company
and directing the successful integration of the operational, organizational and technological
aspects of two companies. Mr. Spinner brings valuable knowledge to the Board as an active
CEO of a public company. Mr. Spinner currently serves on the Board’s Audit Committee.
Dr. Craig E. Philip
Dr. Philip has been a Director of the Company since August 2011.
Dr. Philip is President and Chief Executive Officer of Ingram Barge Company. He was
named President of Ingram Barge in 1994 and Chief Executive Officer in 1999. Dr. Philip
began his transportation career with Conrail in 1980, working for Ingram Barge from 1982
until 1987 and serving as Vice President of the Intermodal Division of South Pacific
Railroad before returning to Ingram Barge in 1991. He has held adjunct faculty positions at
Princeton University and at Vanderbilt University. Dr. Philip holds Master’s and Doctorate
degrees in Engineering from the Massachusetts Institute of Technology and an
undergraduate degree in Civil Engineering from Princeton University.
Dr. Philip’s career in the marine, rail and intermodal industries spans more than 30 years.
He provides the Board with a unique blend of leadership experience in various modes of
freight transportation, in combination with experience in industrial marketing and strategic
planning. Dr. Philip currently serves on the Board’s Compensation Committee and
Nominating/Corporate Governance Committee.
Janice E. Stipp
Ms. Stipp has been a Director of the Company since October 2012.
Ms. Stipp is Executive Vice President, Chief Financial Officer and Treasurer of Tecumseh
Products, a global manufacturer of compressors and condensing units for the commercial
refrigeration market. She was named to this position in October 2011. Prior to that, she was
Chief Financial Officer at Revestone Industries; Acument Global Technologies, a Platinum
Equity portfolio company; and GDX Automotive, a Cerberus Equity portfolio company.
She began her career in 1981 with Lear Siegler, working in corporate audit. From 1984 to
1999, she worked for General Motors in a variety of financial roles. She graduated from
Michigan State University in 1981 with a BA in Accounting and received her CPA
certification in 1983 and MBA from Wayne State University in 1987.
Ms. Stipp has 31 years of financial and accounting experience with a variety of industrial
companies. For the past seven years, she has served as CFO of both public and private firms.
She has a strong background in financial controls, auditing, financial management and
accounting, acquisitions, and treasury. She is experienced in corporate restructuring, having
lead turnaround efforts at several of the private equity-sponsored firms where she worked. In
addition to her CFO experience, she has also held the Corporate Controller position and has
held several treasury-related positions. Given her years of senior-level executive management,
she has extensive experience working with boards of directors at several firms. Ms Stipp’s
financial experience brings valuable knowledge to the Audit Committee.