Shareholders of $4.2 billion freight conglomerate CNF have approved a proposal to change the company’s name to Con-way Inc. Shares of the company on the New York Stock Exchange will trade under the new ticker symbol of CNW as the company begins a re-branding initiative to introduce a new Con-way logo and graphic identity.
“We’re pleased that shareholders have overwhelmingly voted in support of this proposal,” said Douglas Stotlar, CNF’s president & CEO. “The Con-way name … is a powerful, well-known brand that will provide our enterprise with long-term advantages, a clear value proposition, and a distinct presence in the market.”
Stotlar said Con-way Inc. will be organized under three primary reporting units. The first will be Con-way Freight, parent company for three regional LTL carriers. The former names, logos and colors of those LTL companies – Con-Way Western Express, Con-Way Central Express and Con-Way Southern Express – will be converted to the single Con-way Freight logo and colors, while Con-Way Canada Express will be renamed Con-way Freight-Canada.
That’s no simple feat, either, as Con-way’s LTL network is comprised of 440 service centers and a fleet of 32,000 trucks, tractors and trailers.
CNF’s logistics arm Menlo Worldwide and Menlo’s subsidiary Vector SCM will continue operating under their existing names as Con-way examines global trademark issues and requirements.
CNF’s truckload and expedited arm, Con-Way Transportation, and its subsidiaries will change names, too. Con-way NOW expediting and Con-way Full Load brokerage units will be renamed Con-way Expedite and Brokerage. The division’s air forwarding unit, Con-way Air will become Con-way Forwarding. While Con-way Truckload will retain its existing name, its fleet and facilities will adopt a new logo.
