Meet the Board of Directors of Old Dominion Freight Line

Old Dominion Freight Line is a leading transportation and logistics company in the United States, and its success is largely attributable to the expertise and guidance of its Board of Directors. In this article, we will introduce you to the Board, explore its key responsibilities and composition, and highlight some of its past achievements and future goals.

Old Dominion Freight Line: A Brief Overview

Old Dominion Freight Line is a highly respected transportation and logistics company headquartered in Thomasville, North Carolina. Founded in 1934, the company has grown to become one of the largest less-than-truckload carriers in the United States, with a network of 246 service centers and more than 20,000 employees. Old Dominion is known for its superior quality service, advanced technology, and innovative solutions for its customers across a wide range of industries.

Old Dominion Freight Line has received numerous awards and recognition for its exceptional service and commitment to sustainability. In 2020, the company was named a Top 100 Trucker by Inbound Logistics magazine and received the SmartWay Excellence Award from the Environmental Protection Agency for the 10th consecutive year. Old Dominion also invests in eco-friendly initiatives, such as using alternative fuels and implementing energy-efficient technologies, to reduce its carbon footprint and promote a cleaner environment.

The History of Old Dominion Freight Line

The story of Old Dominion Freight Line begins in 1934 when Earl Congdon Sr. founded the company in Richmond, Virginia, with one truck and a single route. In the decades that followed, the company expanded its network and capabilities, opening new service centers and launching new technologies to enable faster and more efficient transportation. Today, the company is widely respected for its impressive track record of customer satisfaction and innovation, and is one of the most successful and admired companies in the industry.

Throughout its history, Old Dominion Freight Line has remained committed to providing exceptional service to its customers. This dedication has been recognized with numerous awards and accolades, including being named the top LTL carrier by Logistics Management magazine for 11 consecutive years.

In addition to its focus on customer satisfaction, Old Dominion Freight Line is also committed to sustainability and reducing its environmental impact. The company has implemented a number of initiatives to achieve this goal, including investing in fuel-efficient equipment and utilizing intermodal transportation to reduce emissions.

The Company's Mission and Vision

At Old Dominion Freight Line, the mission is to provide superior quality service at a fair price, while consistently exceeding customer expectations. The company's vision is to be the preferred logistics provider for shippers in North America, known for its unwavering commitment to excellence and innovation. These core values drive the company's decisions and strategies, and inform the Board's responsibilities in guiding the company towards its goals.

Old Dominion Freight Line has been in business for over 85 years, and during that time, the company has built a reputation for reliability and efficiency. The company's commitment to excellence is evident in its state-of-the-art technology and equipment, as well as its highly trained and experienced staff.

In addition to its focus on customer satisfaction, Old Dominion Freight Line is also committed to sustainability and environmental responsibility. The company has implemented a number of initiatives to reduce its carbon footprint, including the use of alternative fuels and the optimization of its transportation routes to minimize emissions. By prioritizing sustainability, Old Dominion Freight Line is not only contributing to a healthier planet, but also setting an example for other companies in the logistics industry.

Introduction to the Board of Directors

The Board of Directors is responsible for the strategic planning and direction of Old Dominion Freight Line, overseeing the company's management and ensuring that its operations align with its mission and vision. The Board is composed of dedicated professionals with diverse backgrounds and expertise, who bring their collective wisdom and experience to bear on the company's challenges and opportunities. The Board meets regularly to discuss and evaluate the company's performance, and to make strategic decisions that ensure its long-term success and growth.

In addition to their strategic responsibilities, the Board of Directors also plays a crucial role in ensuring that Old Dominion Freight Line operates in an ethical and socially responsible manner. The Board sets the tone for the company's culture and values, and ensures that its policies and practices align with its commitment to sustainability, diversity and inclusion, and community engagement. By prioritizing these values, the Board helps to build a strong and resilient company that is not only successful, but also a force for good in the world.

Key Responsibilities of the Board of Directors

The Board of Directors has several key responsibilities, including:

• Providing overall guidance and direction for the company;
• Ensuring that the company is managed effectively and efficiently, and that its operations are aligned with its mission and vision;
• Assuming responsibility for corporate governance matters, including compliance with legal and regulatory requirements;
• Providing oversight of the company's risk management strategies and activities;
• Engaging with stakeholders, including shareholders, employees, customers, and the broader community;
• Approving major decisions and transactions, including mergers and acquisitions;
• Assuming responsibility for executive compensation, leadership succession planning, and senior executive selection and evaluation; and
• Evaluating its own performance and making changes to improve its effectiveness and efficiency.

In addition to these key responsibilities, the Board of Directors also plays a crucial role in setting the company's strategic direction. This involves identifying new opportunities for growth and development, as well as assessing potential risks and challenges that may impact the company's long-term success. The Board must also ensure that the company's strategic plans are aligned with its overall mission and vision, and that they are communicated effectively to all stakeholders.

The Composition of Old Dominion Freight Line's Board of Directors

Old Dominion Freight Line's Board of Directors is composed of 11 members, all of whom bring unique perspectives and expertise to the role. The Board is chaired by Greg C. Gantt, who has served as Chief Executive Officer since May 2018. Other members include independent directors, company executives, and industry experts, all of whom share the company's commitment to excellence and innovation.

One of the independent directors on Old Dominion Freight Line's Board is G. Robert "Bob" Evans, who has been a member since 2007. Evans has extensive experience in the transportation industry, having served as the CEO of Norfolk Southern Corporation from 2004 to 2015. His expertise in rail transportation and logistics has been invaluable to Old Dominion Freight Line's growth and success.

In addition to the Board of Directors, Old Dominion Freight Line also has a Board of Advisors, which is composed of industry leaders and experts who provide guidance and insight to the company's leadership team. The Board of Advisors includes individuals such as John A. Luke Jr., the former Chairman and CEO of MeadWestvaco Corporation, and John H. Hammergren, the former Chairman and CEO of McKesson Corporation. Their collective expertise in areas such as finance, operations, and strategy has helped Old Dominion Freight Line maintain its position as a leader in the transportation industry.

Meet the Chairperson of the Board of Directors

Greg C. Gantt has been Chairperson of the Board of Directors since May 2018. He has been with Old Dominion Freight Line for more than 25 years and has held a variety of leadership positions with the company, including Executive Vice President and Chief Operating Officer. Mr. Gantt is a seasoned transportation executive and has been instrumental in driving the company's growth and success in recent years. He has a Bachelor's degree in Business Administration from Catawba College and a Master's degree in Business Administration from Wake Forest University.

Meet the CEO and President of Old Dominion Freight Line

Greg C. Gantt is also the CEO and President of Old Dominion Freight Line. Mr. Gantt succeeded David S. Congdon, who served as CEO from 2008 to 2018 and as Chairperson of the Board from 2015 to 2018. Under Mr. Congdon's leadership, Old Dominion Freight Line grew rapidly and became one of the most innovative and respected companies in the industry. Mr. Congdon remains a member of the Board of Directors and continues to provide guidance and insight to the company.

Other Members of the Board and Their Roles

Other members of the Board of Directors include: John R. Congdon Jr., Vice Chairman and Director of Safety and Compliance; Warren F. Barnes, Independent Director; John D. Kasarda, Independent Director; Leo H. Suggs, Independent Director; David J. Bates, Senior Vice President, Marketing, and Communication; Terry D. Hutchins, Executive Vice President and Chief Financial Officer; Carter G. Woodruff, Independent Director; and Marc A. Bessent, Senior Vice President and Chief Operating Officer - LTL. Each member of the Board brings unique experience, expertise, and insight into the company's operations, and works collaboratively with other members to make informed, strategic decisions that drive growth and success.

The Importance of Diversity on the Board

Old Dominion Freight Line recognizes the importance of diversity on its Board of Directors, and is committed to ensuring that its members represent a wide range of perspectives and experiences. The company believes that a diverse Board is essential to making informed and strategic decisions, and is committed to recruiting and retaining directors who bring diverse backgrounds and viewpoints to the role.

How the Board Works with Management to Ensure Success

The Board of Directors works closely with Old Dominion Freight Line's management team to ensure that the company's operations are aligned with its overall mission and vision. The Board provides oversight and guidance, while the management team is responsible for executing the company's strategies and initiatives. Together, the Board and management work collaboratively to identify and address challenges, explore new opportunities, and drive growth and success for the company.

Past Accomplishments and Future Goals of Old Dominion Freight Line's Board

The Board of Directors has played a critical role in the success of Old Dominion Freight Line, overseeing the company's growth and innovation and ensuring that it remains true to its core values. Some of the key accomplishments of the Board include:

• Successfully guiding the company through a period of unprecedented growth and technological innovation;
• Recruiting and retaining top talent and developing a strong and effective management team;
• Continuously improving the company's safety record and ensuring compliance with all regulatory requirements;
• Formulating and executing strategies for organic and inorganic growth;
• Aligning the company's operations with its mission and vision, and ensuring that all decisions are made with the best interests of stakeholders in mind;
• Continuing to innovate and explore new solutions for customers across a wide range of industries, while remaining true to the company's core values.

Looking ahead, the Board of Directors is committed to driving growth and success for Old Dominion Freight Line, while ensuring that the company remains a leader in transportation and logistics and continues to deliver superior quality service to its customers. The Board will continue to navigate a rapidly changing business environment, and adapt to new technologies and industry trends to drive innovation and success.

Challenges Faced by the Board and How They Overcome Them

The Board of Directors faces a wide range of challenges, including regulatory compliance, risk management, competition, and changing market dynamics. To overcome these challenges, the Board leverages its collective wisdom and experience, and works collaboratively with management to identify and address potential risks and challenges. The Board also keeps a close eye on emerging trends and technologies, and ensures that Old Dominion Freight Line is well-positioned to capitalize on new opportunities and stay ahead of the curve.

The Role of Shareholders in Electing Members to the Board

Old Dominion Freight Line's shareholders play a critical role in the election of members to the Board of Directors, and have a vested interest in ensuring that the Board is composed of strong, effective, and diverse individuals. Shareholders have the opportunity to vote at annual meetings and to have their voice heard on key decisions that impact the company's future. The Board values the input and feedback of shareholders, and is committed to ensuring that the company remains transparent, accountable, and responsive to the needs of its stakeholders.

Conclusion: A Look at Old Dominion Freight Line's Bright Future

Old Dominion Freight Line is a highly respected transportation and logistics company that has earned a reputation for excellence, innovation, and superior quality service. The company's Board of Directors plays a critical role in its success, providing strategic guidance and oversight and working closely with management to ensure that the company remains true to its core values and mission. Looking ahead, Old Dominion Freight Line is well-positioned for continued growth and success, and the Board is committed to driving the company forward while remaining true to its commitment to transparency, accountability, and excellence.

• Old Dominion Freight Line is a top transportation and logistics company in the United States that aims to provide superior quality service at a fair price and become the preferred logistics provider for shippers in North America known for its unwavering commitment to excellence and innovation.
• Old Dominion Freight Line's Board of Directors is composed of 11 members, including independent directors, company executives, and industry experts, who bring unique perspectives and expertise to the role. The Board is responsible for the strategic planning and direction of the company and oversees the company's management to make strategic decisions that ensure its long-term success and growth.
• The company recognizes the importance of diversity on its Board of Directors and is committed to ensuring that its members represent a wide range of perspectives and experiences. The Board believes that a diverse Board is essential to making informed and strategic decisions and is committed to recruiting and retaining directors with diverse backgrounds and viewpoints.
• The Board of Directors has several key responsibilities, including providing overall guidance and direction for the company, ensuring that the company is managed effectively and efficiently, assuming responsibility for corporate governance matters, providing oversight of the company's risk management strategies and activities, engaging with stakeholders, approving major decisions and transactions, assuming responsibility for executive compensation, leadership succession planning, and senior executive selection and evaluation, and evaluating its own performance and making changes to improve its effectiveness and efficiency.
• Some of the past accomplishments of the Board include guiding the company through a period of unprecedented growth, recruiting and retaining top talent, continuously improving the company's safety record, formulating and executing strategies for organic and inorganic growth, and aligning the company's operations with its mission and vision. The Board's future goals include driving growth and success for Old Dominion Freight Line while ensuring that the company remains a leader in transportation and logistics and continues to deliver superior quality service to its customers.