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Postmaster General DeJoy says future bright for USPS after executing financial turnaround

November 9, 2023

READ FULL ARTICLE AT » Triad Business Journal

When Louis DeJoy took on the U.S. postmaster general role in 2020, it was an entity plagued with challenges, from the negative $150 billion on its balance sheet to the very real possibility of running out of cash in 60 days, he said.

“Perplexed, sad, angry – all of that comes to mind,” the Greensboro resident recalled for the crowd Tuesday at the Concordia United States Initiative held at the SAS campus in Cary. “There was, and had been for several years, a clear and present danger that the postal service as we know it was going to fail.”

DeJoy is the founder and former CEO of New Breed Logistics, a logistics and freight firm that was based in High Point before it was acquired by XPO Logistics in 2014 for $615 million. New Breed was a United States Postal Service contractor for many years.

Flash forward more than three years later, and the challenges aren’t over. But DeJoy said the organization’s future is bright. Instead of cash for 60 days, it can keep going for five years, he said.

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