YRC Worldwide’s logistics unit, which the carrier sold to a private equity firm, has been rebranded MIQ Logistics, and the new entity Wednesday named Joey Carnes its chairman and chief executive officer.
The rebranding follows completion of YRC’s sale of its logistics unit to private equity firm Austin Ventures; the initial closing of that deal was announced Monday. (Click here for previous story.)
Previously president and CEO of BAX Global, a $3 billion global supply chain company, Carnes brings more than 30 years of experience in the industry to MIQ, the company said in a statement.
Carnes will work closely with John Carr, MIQ’s president and chief operating officer.
“MIQ Logistics carries forward the people, client focus and services of YRC Logistics,” Carr said in a statement. “We have the solid financial backing of Austin Ventures to invest in expanding our offerings and continuing the development of our global network.”
MIQ Logistics is based in Overland Park, Kan., which is also YRC’s headquarters.
YRC Worldwide is ranked No. 4 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
