May 3, 2010: YRC Worldwide Inc. outlined an overhaul of its board of directors on Friday. The move is part of a deal the trucking carrier struck to entice bondholders to swap debt for equity.

Seven members of the YRC board will resign effective May 11, according to filings with the Securities and Exchange Commission. Five new members — most with experience in turning around companies — will join the board while four current directors will remain.

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