A Q&A with James Clark
Tue, 24 Aug 2010
US-based YRC Worldwide has completed the sale of its logistics business in a last-minute deal said to be worth US$38.7 million. YRC Logistics, bought by private equity investor Austin Ventures, has been re-branded as MIQ Logistics. Its Director of Global Services outlines plans for the future
Who is James Clark?
With more than 15 years’ experience in global transportation management, I had been with YRC Logistics for 12 years, heading up the Southampton branch. In my current role as Global Services Director my primary focus is on the strategic development of YRC Logistics in the UK and across Europe.
How important was this sale for the future of the company?
Extremely important, particularly with the ambition of Austin Ventures, which has already been shown with the investment in people like Joey Carnes who assumes the responsibilities of Chairman and CEO of MIQ. Previously President and CEO of BAX Global, he brings 30 years’ experience.
How would you sum up the past 18 months?
The economy has yet to rebound fully from recession and it has been difficult for the retail sector, particularly as it recovers from the turmoil, placing ongoing emphasis on the need for flexible, efficient supply chain solutions. We have got noticeably better in our ability to improve the bottom line performance of our clients’ supply chains.
What are your priorities for MIQ Logistics in the coming months?
We have a unique opportunity to capitalise on the growth potential available in today’s market, and we are looking forward to additional investments that will enable us to expand our offerings and continue to expand our global network in areas such as mainland Europe.
How has the sale of the company affected staff and staffing levels?
The sale of the company is seen as positive, and with additional investment the staff can see that there are real opportunities for personal development.
Can you tell us any more about the strategic partnership with Austin Ventures?
Austin Ventures has given us a solid financial base we can build on. It takes a long term perspective to its investments and follows a “buy it and build” strategy. It sees great opportunity in MIQ Logistics to grow and expand the business.
What has been the market reaction to the sale, and how will you regain market share?
The reaction to the sale has been extremely positive and, with the economy still experiencing ups and downs, our clients are comforted that we have solid financial backing, while many of our competitors are struggling. Our clients remain at the centre of all we do and we will serve their business needs with a passion for continuous improvement and a sense of urgency.
With more than 15 years’ experience in global transportation management, I had been with YRC Logistics for 12 years, heading up the Southampton branch. In my current role as Global Services Director my primary focus is on the strategic development of YRC Logistics in the UK and across Europe.
How important was this sale for the future of the company?
Extremely important, particularly with the ambition of Austin Ventures, which has already been shown with the investment in people like Joey Carnes who assumes the responsibilities of Chairman and CEO of MIQ. Previously President and CEO of BAX Global, he brings 30 years’ experience.
How would you sum up the past 18 months?
The economy has yet to rebound fully from recession and it has been difficult for the retail sector, particularly as it recovers from the turmoil, placing ongoing emphasis on the need for flexible, efficient supply chain solutions. We have got noticeably better in our ability to improve the bottom line performance of our clients’ supply chains.
What are your priorities for MIQ Logistics in the coming months?
We have a unique opportunity to capitalise on the growth potential available in today’s market, and we are looking forward to additional investments that will enable us to expand our offerings and continue to expand our global network in areas such as mainland Europe.
How has the sale of the company affected staff and staffing levels?
The sale of the company is seen as positive, and with additional investment the staff can see that there are real opportunities for personal development.
Can you tell us any more about the strategic partnership with Austin Ventures?
Austin Ventures has given us a solid financial base we can build on. It takes a long term perspective to its investments and follows a “buy it and build” strategy. It sees great opportunity in MIQ Logistics to grow and expand the business.
What has been the market reaction to the sale, and how will you regain market share?
The reaction to the sale has been extremely positive and, with the economy still experiencing ups and downs, our clients are comforted that we have solid financial backing, while many of our competitors are struggling. Our clients remain at the centre of all we do and we will serve their business needs with a passion for continuous improvement and a sense of urgency.
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