Atlas World Group Announces Changing of the Guard; 30-Year Veteran Set to Take Over Helm

December 1, 1998

EVANSVILLE, (Ind.) -- A thirty-year veteran of Atlas Van Lines, who has risen from dispatcher to president of the country's third-largest mover of household goods, is now being named to take over the reigns of Atlas World Group (AWG). The AWG Board of Directors has announced that on January 1, 1999, Michael L. Shaffer, president and COO of Atlas Van Lines, will take over as chairman and CEO of AWG, the holding company for Atlas Van Lines and its seven subsidiaries and Red Ball Corp.

Shaffer will take over for Walter E. Saubert, AWG's current chairman and CEO, who is stepping down at the end of this year to return to his hometown of Seattle. Saubert, who was named chairman and CEO of AWG upon the retirement of long-time Atlas executive Norman D. Gee in January 1997, has been in Evansville under a two-year contract.

A native of Anchorage, Alaska, Shaffer's experience in the moving industry spans three decades, all of which has been with Atlas Van Lines. Shaffer joined Atlas in 1969 as a dispatcher trainee and has steadily climbed the ranks to take on added responsibility within the organization. In 1983, Shaffer was promoted to vice president and general manager of Atlas Van Lines Texas, Inc. A year later, in 1984 he was promoted to vice president of operations and moved to Atlas Van Lines' headquarters in Evansville.

Following a major functional realignment of the company in January 1991, he was named president of the U.S. Van Lines Transportation Group. In October 1996, he was named to his current post as president and chief operating officer of Atlas Van Lines, Inc.

With its world headquarters in Evansville, Ind., Atlas World Group is the holding company for Atlas Van Lines, a major transporter of household goods and special products through some 600 agents across the U.S. and Canada, and nearly 800 worldwide.