ArcBest innovation chief to retire in December
by September 26, 2024 9:29 am 287 views
Michael Newcity, chief innovation officer and president of ArcBest Technologies, will retire in December 2024 after more than 30 years with the shipping and logistics company. His time with ArcBest included working as chief financial officer and chief information officer.
Dennis Anderson, the company’s chief strategy officer, will take over the innovation officer role while retaining his existing job.
Newcity, who will be 55 when he retires, has worked as ArcBest’s chief innovation officer since 2015. According to ArcBest, Newcity has been instrumental in advancing enterprise initiatives in business intelligence, strategy management and digital transformation. He joined the company in 1993 as a programmer and rose through various management roles, including chief financial officer and chief information officer before his innovation and technology role.
“Michael has made significant contributions to ArcBest in his time with our company. His creative spirit and forward-thinking approach have been valuable as ArcBest transformed into a leading logistics company,” Judy McReynolds, ArcBest chairman and CEO, said in a statement. “Despite a rapidly changing environment, Michael has kept ArcBest at the leading edge of technology, from operationalizing the use of AI and advanced analytics to overseeing the development and commercialization of disruptive technologies like Vaux, our groundbreaking, patented freight movement system. I thank Michael for his service to our company and wish him, his wife and their family the very best.”
ArcBest noted that under Newcity, the company “reimagined” its use of technology and made it “an integral pillar” of the company’s business strategy.
“I am so fortunate to have spent over 30 years at ArcBest. This is an incredible organization, full of people who are inventive, smart and driven to disrupt our industry and provide our customers with solutions that transform their supply chains,” Newcity said. “It has been an honor to serve as chief innovation officer of ArcBest and president of ArcBest Technologies. I have been truly blessed to work with Judy and the entire ArcBest team.”
Anderson, 44, joined ArcBest 21 years ago as a pricing analyst and progressed through the organization moving into strategic planning, becoming chief customer officer in 2020 and most recently working as chief strategy officer.
“It has been a privilege to collaborate closely with Michael and his team for years, finding ways to better serve our customers’ evolving needs. I’m excited to build upon the powerful foundation they established and continue driving growth, efficiency and innovation at ArcBest,” said Anderson.
ArcBest has around 15,000 employees at 250 locations. ABF Freight, the largest subsidiary, is a less-than-truckload carrier. On Feb. 6, the company reported a full-year net income of $195.433 million, down 34.4% compared with $298.209 million in 2022. Revenue in 2023 totaled $4.427 billion, down 12% compared with $5.029 billion in 2022. Net income in the first half of 2024 totaled $44.612 million, well below the $111.726 million in the same period of 2023. Revenue in the first half was $2.114 billion, just below the $2.209 billion in the same period of 2023.