Old Dominion announces CEO transition

THOMASVILLE, N.C.–(BUSINESS WIRE)–Old Dominion Freight Line, Inc. (Nasdaq: ODFL) today announced that effective July 1, 2023, its Board of Directors has elected Kevin M. (“Marty”) Freeman to succeed Greg C. Gantt as the Company’s President and Chief Executive Officer. Mr. Gantt will retire from the Company effective June 30, 2023, but expects to remain a member of the Company’s Board of Directors. Mr. Freeman, who has served as the Company’s Executive Vice President and Chief Operating Officer since May 2018, joined the Company in February 1992 and has assumed ever-increasing roles and responsibilities over the past 30 years.

David S. Congdon, the Company’s Executive Chairman of the Board, said, “On behalf of our Board of Directors and the entire Company, I want to thank Greg for his leadership and his numerous contributions and accomplishments at Old Dominion. Greg has been a visionary leader and a steward of the Company’s unique culture. He was also directly responsible for developing our best-in-class service offering, where every employee is focused on providing our customers with superior service at a fair price. This value proposition has supported our ability to win market share for many years, and we believe our continued focus on this core principle will support our ongoing ability to grow. I am excited about Greg’s opportunity to continue to serve on our Board of Directors and look forward to his continued contributions to Old Dominion’s success.”

Mr. Gantt stated, “It has been a privilege to serve Old Dominion as President and Chief Executive Officer, and I am pleased that the Board has elected Marty to succeed me upon my retirement. Marty and I have worked closely together for most of my career, and he is an exceptional leader and champion of Old Dominion. This change in leadership was part of our long-term succession plan, which has supported our ability to develop leaders from within our organization and prepare them to lead the Company into the future. We have an outstanding team at Old Dominion, and I am confident that Marty and his team will continue to execute on our proven long-term strategic plan and take the Company to new heights. I look forward to watching Old Dominion continue to lead the LTL industry.”

Mr. Freeman said, “I am honored and excited to serve as Old Dominion’s next President and Chief Executive Officer. I thank Greg for his outstanding leadership, as well as David and the rest of the Board for their confidence, guidance and support. We have an outstanding team at Old Dominion, and I am energized to work alongside them to chart our path forward for the benefit of our employees, customers, and shareholders. I will work tirelessly with our team to execute our long-term strategic plan, and I am confident that we can continue to build on the Company’s long-term record of successful growth.”

Forward-looking statements in this news release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (…).