Earl E. Congdon, chairman and chief executive officer of Old Dominion Freight Line, recently notified the company’s board of directors of his intention to resign as CEO, effective Dec. 31.
Congdon informed the board of his decision on Oct. 29, according to a Form 8-K filed with the Securities and Exchange Commission. Congdon will continue his active involvement with the company as executive chairman of the board, with participation in most major decisions, including strategic planning, acquisitions and other significant matters.
Also on Oct. 29, the board also designated or appointed the following current employees of the company to the positions described below, with each designation or appointment to be effective as of Jan. 1:
Earl Congdon, 76, joined ODFL in 1949 and has served as board chairman and CEO since 1985 and as a director since 1952. He is a son of E.E. Congdon, one of the company’s founders; the brother of John R. Congdon, senior vice president and vice chairman of the board; the father of David Congdon; and Yowell’s father-in-law.
David Congdon, 51, began his career with the company in 1978 and has served as president and COO since May 1997. Between 1978 and 1997, he held various company positions in operations, maintenance and engineering. He was elected a director in 1998.
Yowell, 56, joined ODFL in February 1983 and has served as executive vice president since May 1997. He also has held senior positions in many functional areas of the company, including corporate services, operations and information technology.
