New structure offers company's local teams greater autonomy to manage sales and costs
LONG BEACH, Calif., Feb. 9, 2015 (GLOBE NEWSWIRE) -- UTi Worldwide Inc. (Nasdaq:UTIW), a global supply chain services and solutions provider, has organized its corporate and freight forwarding operating structure to better align with the company's client-centric strategy. As outlined in the company's 8-K filing on January 27, the resulting organization empowers local teams to make decisions faster in response to dynamic client and market needs.
"UTi's roots and success stemmed from local ownership and responsiveness to client needs. We possess an entrepreneurial energy that we can unleash within the framework of our improved network tools and processes," said UTi Chief Executive Officer Ed Feitzinger.
Under the new structure, each local leader has the ability to leverage UTi's global forwarding network while using the experience and knowledge of their team to serve the unique needs of that market's clients. The company also has realigned corporate functions that had primarily served the forwarding business under the forwarding business line, leaving a smaller enterprise group focused on public company compliance and infrastructure required to support the contract logistics and distribution and forwarding businesses as a whole.
In addition, Feitzinger has taken direct responsibility for the company's three primary vertical sales groups -- Pharma, Automotive, and Energy, Mining & Projects -- placing the executive office closer to key clients and capability developments needed for those global industries.
Feitzinger said enabling local teams to make decisions utilizing agreed-upon principles is designed to improve service, achieve better cost management and boost margins.
"UTi put its resources into developing one of the forwarding industry's best global networks. We have the means to ensure clients experience the same service quality from every single one of our locations," he said. "At the same time, clients experience the touch and service they expect from a business partner that truly understands their needs and local market requirements."
About UTi Worldwide
UTi Worldwide Inc. (www.go2uti.com) is an international, non-asset-based supply chain services and solutions company providing air and ocean freight forwarding, contract logistics, customs brokerage, distribution, inbound logistics, truckload brokerage, and other supply chain management services. The company serves a large and diverse base of global and local companies, including clients operating in industries with unique supply chain requirements such as the retail, apparel, chemical, automotive, pharmaceutical, and technology industries. The company seeks to use its global network, proprietary information technology systems, and relationships with transportation providers, and expertise in outsourced logistics services to deliver competitive advantage to each of its clients' supply chains.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release which address activities, events or developments that UTi expects or anticipates will or may occur in the future, including such things as enabling local teams to make decisions utilizing agreed-upon principles being designed to improve service, achieve better cost management and boost margins and other such matters, are forward-looking statements. These statements are based on certain assumptions and analyses made by UTi in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate in the circumstances. In some cases, readers can identify forward-looking statements by the use of forward-looking terms such as "may," "will," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue" and other similar expressions or the negative of these terms or other comparable terms. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements. Factors that might cause or contribute to a material difference include, but are not limited to, the risks in UTi's filings with the SEC, including those listed in Item 1A "Risk Factors" in its annual report on Form 10-K relating to the fiscal year ended January 31, 2014. All forward-looking statements set forth in this press release are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by us will be realized or, even if substantially realized, that they will have the expected consequences to or effects on UTi or its business or operations. Forward-looking statements set forth in this press release speak only as of the date hereof and UTi does not undertake any obligation to update forward-looking statements to reflect subsequent events or circumstances, changes in expectations or the occurrence of unanticipated events, except as required by law.