Two Well Known Finance Execs Join Pacer International

LAFAYETTE, Calif.--(BUSINESS WIRE)--May 28, 1998--Larry C. Yarberry, who served as chief financial officer of the $3.3 billion Southern Pacific Rail Corporation (SP) until its 1996 merger with Union Pacific (PSE; NYSE:UP), has been named to the new position of chief financial officer at Pacer International (Pacer), a Lafayette, California-based group providing intermodal brokerage, trucking and logistics services in North America.

Also, Brian Kane, most recently vice president Finance for Shell Martinez Refining Company, and formerly controller of SP until the merger with UP, has been named to the new position of director of financial reporting and analysis for Pacer.

The appointments were announced by Donald C. Orris, chairman and chief executive officer of Pacer International. "Given the accelerating consolidation activity in the transportation industry today and our company's rapid growth to date, we felt it important to strengthen our financial team. We are fortunate to have Larry Yarberry and Brian Kane join Pacer International. Both are highly respected financial strategists with strong, relevant transportation backgrounds."

Yarberry and Kane join a finance team already in place at Pacer International that includes Joe Atturio, vice president and controller. Atturio, a long-time employee of Pacer International and its predecessor companies, has been instrumental in the progress of the company since its management buyout from UP in 1997, Orris noted.

Yarberry, with more than 30 years' experience in transportation, spent the last year assisting UP in transitioning the Finance and Accounting functions since that company's merger with SP. At SP he was responsible for Finance, Accounting, Treasury, Tax, Internal Audit, Investor Relations and Purchasing.

Kane, a certified public accountant, served as SP's controller for eight years prior to joining Shell in December 1996. He has also been associated with Denver-based Anschutz Corporation, with Price Waterhouse, and with Pacific Motor Transport, a Pacer predecessor company.

The Pacer International group of companies, with pro forma revenues of nearly $200 million in 1997, provides one of the broadest ranges of intermodal, trucking and logistics services in the industry. Its intermodal marketing unit arranges intermodal freight movements throughout North America for manufacturers and retailers, and provides customized electronic tracking, analysis of accessorial charges, and other information support. PACER, the flatbed and heavy-haul specialized trucking division, also offers its customers logistics and consolidation services. Other related services -- all available through a single provider -- include truck brokerage, less-than-truckload transport, truckload cartage, warehousing, cross-dock services, and intermodal rail car maintenance and repair. The group has some 250 employees, 120 agents, and a network of more than 760 owner-operator drivers. It is based in Lafayette, California.