Boyd Bros. Transportation Announces Management Changes

Business Wire, Feb 17, 2000

Business Editors

CLAYTON, Ala.--(BUSINESS WIRE)--Feb. 17, 2000

Boyd Bros. Transportation Inc. (Nasdaq/NM:BOYD) today announced that its Board of Directors has approved certain changes to the Company's senior management team.

Gail Boyd Cooper (age 49), formerly Vice President and Secretary of Boyd Bros. Transportation and a 28-year employee of the Company, has been named President and Chief Executive Officer. Cooper also has been named to the Company's Board, expanding it to seven members. As President and Chief Executive, she succeeds W. Miller Welborn (age 40), who relinquishes those offices to become Vice Chairman, a new position providing strategic advice to the Board's executive committee. In this new position, Welborn will focus on the long-term interests of the Company involving both its Boyd Bros. and Welborn divisions. He remains a member of the Company's Board.

Cooper joined Boyd Bros. in 1972 and has worked in various capacities involving virtually all phases of the Company's operations. She is the daughter of Dempsey Boyd, founder of Boyd Bros. Transportation and Chairman of the Board. Welborn, co-founder and Chairman of Welborn Transport in Tuscaloosa, Alabama, joined Boyd Bros. as Vice President in December 1997 concurrent with Boyd Bros.' acquisition of that company. He was named acting Chief Executive Officer of Boyd Bros. in July 1998 and Chief Executive Officer in February 1999.

Commenting on the announcement, Dempsey Boyd, Chairman of the Board, said, &uot;This is both a challenging and exciting time for the trucking industry and for Boyd Bros. Transportation, and we think this new alignment in our senior executive ranks will strengthen the Company's ability to grow and prosper in the months and years to come. We commend Miller for his efforts over the past two years and think he will make continued contributions to the Company in his new role. At the same time, we believe Gail is an excellent choice to lead the Company as we pursue both profitable growth and improved performance. Having a long tenure with the Company and being very familiar with all aspects of its business, she offers the Company a strong combination of direct industry experience, company-specific knowledge, and an unwavering commitment to our long-term success.&uot;

Miller Welborn added: &uot;The past two years at the helm of Boyd Bros. have been rewarding, but the weekly travel between the Company headquarters and Welborn facilities in Tuscaloosa and Birmingham clearly intensified the burden of operational responsibilities for both Company divisions. I look forward to reducing my involvement in day-to-day operations in favor of a more strategic focus.&uot;

Concluding, Cooper said, &uot;Obviously, I am very grateful to the Board of Directors for this opportunity to expand my role with the Company and to have greater responsibility for setting strategic direction, implementing the initiatives necessary to reach our goals, and contributing to the continued profitable expansion of Boyd Bros. Transportation. I am excited about moving this Company forward to capitalize on the opportunities we see in the marketplace.&uot;

Comments in this news release regarding the Company's business, which are not historical facts, are forward-looking statements that involve risks and uncertainties. These risks include the availability of qualified drivers, fluctuations in fuel prices, and adverse safety experience, all of which may have a significant impact on the Company's operations and profitability. In addition, there are risks associated with the Company's ongoing implementation of an owner/operator strategy. In a highly competitive business environment, there can be no assurance that the Company's strategies will successfully improve the future operating profitability of Boyd Bros.

Boyd Bros. Transportation Inc. is one of the largest flatbed trucking companies in the United States. The Company provides transportation services to high-volume, time-sensitive customers, primarily in the steel and building materials industries, and operates throughout most of the continental United States. For more information about the Company, visit Boyd Bros. on the Internet at www.boydbros.com.