ArcBest Names Experienced Finance Executive Matt Beasley as Next Chief Financial Officer

Rhea-AI Summary

ArcBest has appointed Matt Beasley as its new Chief Financial Officer and Treasurer, effective May 14, 2023. Beasley, who has been with ArcBest since early 2022, will replace David Cobb, who is retiring after a 17-year career but will remain on as a senior advisor. Beasley brings over 20 years of financial experience, having held key roles in treasury and financial planning. He was instrumental in renegotiating the company's revolving credit facility and the sale of FleetNet America. Beasley holds degrees in finance and an MBA from notable universities. ArcBest is a leading logistics company with a long history, committed to enhancing its growth strategy.

Positive

• Matt Beasley appointed as CFO, bringing over 20 years of financial experience.
• Seamless transition with David Cobb remaining as senior advisor.
• Beasley played a key role in significant financial operations, including credit facility renegotiation.

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• None.

FORT SMITH, Ark., April 6, 2023 /PRNewswire/ -- ArcBest^® (Nasdaq: ARCB), a leader in supply chain logistics, today announced it has named Matt Beasley as its next chief financial officer and treasurer, effective May 14, 2023. Beasley, ArcBest's current treasurer, will succeed David Cobb, who is retiring after a 17-year career with the company. Cobb will continue with ArcBest as a senior advisor to ensure a seamless transition.

Beasley joined the company in early 2022 and has over 20 years of financial experience, including executive-level roles in treasury, investor relations, enterprise risk management, and financial planning and analysis. At ArcBest, Beasley has played an instrumental role in the renegotiation of the company's revolving credit facility, long-term capital allocation planning and the sale of FleetNet America to Cox Automotive Mobility Solutions. Before joining ArcBest, he spent nearly 15 years at Enable Midstream Partners and its predecessor companies.

"Matt is a well-rounded and experienced leader who has positively impacted our organization, and I look forward to working closely with him as the next CFO," said Judy R. McReynolds, ArcBest chairman, president and CEO. "Since joining ArcBest last year, Matt has become an invaluable contributor, and we will continue to leverage his experience and expertise as we advance our growth strategy. On behalf of the ArcBest board and the entire team, we also thank David for his significant contributions over the last 17 years, and we wish him the very best in his retirement."

"I am excited for the opportunity to serve ArcBest as its next CFO," Beasley stated. "It's an honor to be part of such a talented and dedicated team, and I look forward to working together as we build on our 100-year track record of success."

Beasley holds a bachelor's degree in finance and MIS from The University of Tulsa and a Master of Business Administration in entrepreneurship from St. Edward's University.

ABOUT ARCBEST

ArcBest^® (Nasdaq: ARCB) is a multibillion-dollar integrated logistics company that helps keep the global supply chain moving. Founded in 1923 and now with over 15,000 employees across nearly 250 campuses and service centers, the company is a logistics powerhouse, fueled by the simple notion of finding a way to get the job done. Through innovative thinking, agility and trust, ArcBest leverages its full suite of shipping and logistics solutions to meet customers' critical needs, each and every day. For more information, visit arcb.com.

Investor Relations Contact: David Humphrey	Media Contact: Autumnn Mahar
Title: Vice President – Investor Relations	Title: Senior Manager, PR & Social
Phone: 479-785-6200	Phone: 479-494-8221
Email: dhumphrey@arcb.com	Email: amahar@arcb.com

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SOURCE ArcBest

FAQ

Who is the new CFO of ArcBest (ARCB)?

Matt Beasley has been appointed as the new Chief Financial Officer of ArcBest, effective May 14, 2023.

What is Matt Beasley's experience before joining ArcBest (ARCB)?

Before joining ArcBest in early 2022, Matt Beasley spent nearly 15 years at Enable Midstream Partners in various financial roles.

What company is David Cobb associated with in his retirement?

David Cobb is retiring from his role at ArcBest after a 17-year tenure but will continue as a senior advisor.

When will Matt Beasley take on the role of CFO at ArcBest (ARCB)?

Matt Beasley will officially assume the role of Chief Financial Officer on May 14, 2023.