YRC Worldwide (NASDAQ: YRCW) said Monday it has named Chief Financial Officer Tim Wicks to the newly created position of chief operating officer, according to Associated Press.
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Wicks will be responsible for sales, marketing, pricing, operations and financial strategy. The company said the move is part of efforts that began in June to streamline decision-making and eliminate duplicate efforts and costs.
Wicks will report to Bill Zollars, chairman, president and CEO of YRC Worldwide.
Sheila Taylor will succeed Wicks as chief financial officer. She formerly served as vice president for investor relations and treasurer.
YRC Worldwide is one of the nation's largest trucking companies, but has been struggling to stay afloat during the recession -- selling real estate, cutting thousands of jobs, and renegotiating debt.
YRC Worldwide shares fell 7 cents to close on Monday at $4.09.
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