This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

USA Truck Announces Executive Retirements

VAN BUREN, Ark., March 29, 2011 /PRNewswire/ -- USA Truck, Inc. (Nasdaq: USAK) announced today Mr. Robert M. Powell will retire from his position as Chairman of the Board and as a member of the Board of Directors effective May 4, 2011, the day of the Annual Meeting of Stockholders.  

(Logo:   http://photos.prnewswire.com/prnh/20110114/DA30069LOGO)

Mr. Powell has served as Chairman of the Board since 2000, was CEO between 1988 and 2007, and has been a director of the Company since 1983.  He is one of the original participants in the group that acquired the Company from Arkansas Best Corporation in December 1988.  Prior to that, Mr. Powell had been employed for twenty-eight years by ABF Freight System, Inc., a national trucking company and a subsidiary of Arkansas Best Corporation.

Cliff Beckham, USA Truck's President and CEO, stated: " Bob Powell is a true visionary and recognized leader in the transportation industry.  He has been a valuable contributor to our Company since it was founded and has been a continuous source of sound advice.  Bob's commitment and dedication to this Company during his tenure established USA Truck as one of the industry's leaders, growing it from just a few tractors at its founding to one of the 20 largest dry van truckload carriers in North America.  USA Truck will be forever grateful to Bob for his contributions and we wish him well in his much-deserved retirement."

The Company's Board of Directors unanimously elected Mr. Terry A. Elliott to succeed Mr. Powell as Chairman of the Board.  Mr. Elliott has served as a director of the Company since 2003 and currently serves as the Chairman of the Audit Committee.  He served as Chief Financial Officer of Safe Foods Corporation, a food safety company in North Little Rock, Arkansas, from July 2000 to August 2009 and served as a director of Safe Foods from 2000 to 2003.  Mr. Elliott also was a director of Superior Financial Corporation (the holding company for Superior Federal Bank, F.S.B.) and a member of its Audit Committee from February 2003 until Superior was sold to Arvest Holdings, Inc. in August 2003.  From 1996 to 2000, Mr. Elliott served as the Chief Financial Officer for two unrelated private start-up businesses.  Mr. Elliott was with Ernst & Young from 1968 until 1994 when he retired as Managing Partner of the Little Rock Office. During his career, he has had significant experience in the areas of accounting, auditing, public company reporting, administration, and corporate development.  He is an inactive Certified Public Accountant.  Mr. Elliott has also been active in a number of community and civic organizations.  The Board of Directors believes Mr. Elliott's qualifications to serve as Chairman of the Board include his extensive financial experience and his past service on other companies' Boards of Directors.

The Company's Board of Directors will now begin discussion regarding the vacancy on the Board created by Mr. Powell's retirement.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs