Expeditors' Director James J. Casey Announces Decision Not to Stand for Re-Election
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Expeditors International of Washington, Inc. (NASDAQ: EXPD), the global
logistics company, today said that independent outside director James J.
Casey has expressed his desire not to stand for re-election to the
Company’s Board of Directors following the
completion of his current term expected to end in May 2009. Mr. Casey
also serves as the head of Expeditors’ Audit
Committee. He has continuously served as a director since shortly before
the Company went public in September of 1984. In addition to serving on
Expeditors’ Board, prior to his retirement,
Mr. Casey served in a series of executive positions with Control Data
Corporation, General Mills, Eddie Bauer, Starbucks and Avia.
"Serving as a member of the Expeditors’
Board of Directors has been an interesting and rewarding experience.
Those who are fortunate enough to observe its workings first-hand,
understand that the Company’s accomplishments
are deeply rooted in its unique culture. It really has to be personally
experienced to be properly appreciated, and I’m
grateful to have had this opportunity.” said
Mr. Casey. In explaining the timing of this decision, he went on to say, "Next
year will mark the conclusion of 25 years of service as a member of
Expeditors’ Board of Directors. I’ve
always strongly believed that the hallmark of a good leader is to
understand when it is his or her ‘time to go’
and to properly contemplate and plan for the effect that departure will
have on the organization they serve. Given where I am in my personal
life, after consultation with my family and with management and other
Board members, this seems to be the logical point to begin this
transition.” "James Casey is the longest-serving member of
our Board. He has been with us since the days before we went public back
in 1984. Jim’s always been a very stabilizing
influence on our Board and, in typical Expeditors’
fashion, did not make this decision until he was confident in the
ability of the Board of Directors to continue to function effectively
without the experience he has gained through his long tenure. He has
given us ample time and consideration to plan for his eventual departure.”
said Peter J. Rose, Chairman and Chief Executive Officer. "We’ll
miss Jim’s quiet, but firm and decisive
demeanor. He was truly a ‘man for all seasons’
as the Company grappled with the challenges of a small company
contemplating going public back in 1984 which progressed through the
various stages of growth to become part of the Fortune 500 in 2007. As
the role of the Board required different skills and abilities along the
way, Jim was everything the Company needed him to be as those changing
needs arose. He was tough when we needed to be resolute, he was quietly
humorous when we needed encouragement and probably, most importantly, he
was analytical, direct and clear thinking when it mattered most. Jim is
a great leader and we look forward to our continued association, both
during the time that he has left as an active Board member, and
following his departure as well. There will be plenty of time to thank
Jim over the next year, but we’d be remiss
not to do so publicly with this announcement. Thank you Jim for being
all you needed to be for the shareholders and for being all we needed
you to be for the Company.” concluded Mr.
Rose.
Expeditors is a global logistics company headquartered in Seattle,
Washington. The company employs trained professionals in 179 full
service offices and 69 satellite locations and 4 international service
centers located on six continents linked into a seamless worldwide
network through an integrated information management system. Services
include air and ocean freight forwarding, vendor consolidation, customs
clearance, marine insurance, distribution and other value added
international logistics services.
Forward-Looking Statements
This document contains a forward-looking statement which is based on
certain assumptions and expectations of future events that are subject
to risks and uncertainties. Actual future results and trends may differ
materially from historical results or those projected in the forward
looking statement depending on a variety of factors including but not
limited to changes in customer demand for Expeditors’
services caused by a general economic slow-down, inventory build-up,
decreased consumer confidence, volatility in equity markets, or the
unpredictable acts of competitors.