Old Dominion Freight Line, Inc.
Company History
Old Dominion History: Founding, Growth & Key Milestones
Founded 1934 in Richmond, Virginia, United States
When was Old Dominion founded?
Old Dominion was founded in 1934 in Richmond, Virginia, United States by Earl Congdon and Lillian Congdon, making it 92 years old.
- Founded
- 1934
- Founding place
- Richmond, Virginia, United States
- Founders
- Earl Congdon and Lillian Congdon
- Headquarters today
- Thomasville, North Carolina, United States
- Milestones documented
- 8 (1934–2026)
- Current CEO
- Kevin M. "Marty" Freeman
- Acquisitions
- 3
| Year | Event |
|---|---|
| 1934 | Old Dominion Founded |
| 1962 | Bottoms-Fiske Merger |
| 1991 | Nasdaq Listing |
| 2018 | Greg Gantt becomes CEO |
| 2023 | Marty Freeman becomes CEO |
| 2023 | Withdrew Yellow terminal bid |
| 2025 | $5.496B FY2025 Revenue |
| 2026 | Q2 2026: 70.1% operating ratio |
- Where was Old Dominion founded?
- Old Dominion was founded in Richmond, Virginia, United States in 1934. wikidata.org
- Who founded Old Dominion?
- Old Dominion was founded by Earl Congdon and Lillian Congdon.
- When did Old Dominion start?
- Old Dominion was founded in 1934.
- How old is Old Dominion?
- Old Dominion is 92 years old as of 2026.
Founding Story
Earl and Lillian Congdon started Old Dominion in 1934 in Richmond, Virginia, with one truck running between Richmond and Norfolk. The name comes from Virginia's nickname, the Old Dominion. The company later moved its headquarters to Thomasville, North Carolina, went public on Nasdaq in 1991, and expanded from a regional Southeastern carrier into a national LTL network after trucking deregulation in 1980.
Founders
Earl Congdon
Earl Congdon and his wife Lillian founded Old Dominion in 1934 during the Great Depression, operating one truck between Richmond and Norfolk, Virginia. The business expanded through the Southeast in the following decades, and the Congdon family remained central to its leadership: his son Earl E. Congdon later led the company, and his grandson David S. Congdon served as CEO from 2008 to 2018 and is Executive Chairman today. Earl Congdon was born in 1930.
Lillian Congdon
Lillian Congdon co-founded Old Dominion in 1934 alongside her husband Earl and handled much of the business side of the early company. She later led the company after Earl's death, keeping the business in family hands. Her descendants, including Executive Chairman David S. Congdon, remain involved in its governance. (Exact birth year remains publicly undisclosed).
Key Milestones
Old Dominion Founded
Earl and Lillian Congdon started the freight carrier with one truck in Richmond, Virginia.
Source: odfl.comBottoms-Fiske Merger
Old Dominion merged with the North Carolina carrier Bottoms-Fiske Truck Line in 1962 and moved its headquarters to High Point.
Source: en.wikipedia.orgGreg Gantt becomes CEO
Greg Gantt succeeded David S. Congdon as CEO; Congdon became Executive Chairman.
Source: ir.odfl.comMarty Freeman becomes CEO
Kevin M. "Marty" Freeman became President and CEO on July 1, 2023, after Gantt retired; Greg Plemmons became COO.
Source: ir.odfl.comWithdrew Yellow terminal bid
Old Dominion placed a $1.5 billion stalking-horse bid for Yellow's terminals, was topped by Estes, and later pulled out of the auction.
Source: truckingdive.com$5.496B FY2025 Revenue
Old Dominion reported $5.496 billion of revenue and $1.024 billion of net income for FY2025.
Source: sec.govQ2 2026: 70.1% operating ratio
Revenue rose 10.4% to $1.554 billion and EPS rose 32.3% to $1.68, matching the company record.
Source: ir.odfl.comMajor Acquisitions
Bullocks Express Transportation (assets)
2007Expand service centers in Southwest USA.
Priority Freight Lines (assets)
2007Expand network in Pacific Northwest.
Carter & Sons Freightways (assets)
2001Expand network in Texas and Oklahoma.
Keep researching Old Dominion
Old Dominion Company History FAQ
What are the key milestones in Old Dominion's history?
Founded with one truck in Virginia in 1934; national expansion after 1980 deregulation; Nasdaq IPO in 1991; record $6.26 billion revenue in 2022; Marty Freeman named CEO in 2023; 70.1% operating ratio in Q2 2026.
When did Old Dominion go public?
Old Dominion went public on Nasdaq in 1991 under the ticker ODFL.
What is Old Dominion Freight Line's long-term vision for the next decade of North American logistics?
Old Dominion aims to remain the benchmark of freight transportation, expanding terminal network capacity, leveraging automated cross-dock intelligence, and delivering promises with leading on-time reliability and cargo care.
How did Earl and Lillian Congdon start Old Dominion Freight Line in 1934?
During the depths of the Great Depression in 1934, Earl Congdon Sr. and his wife Lillian Congdon founded Old Dominion with a single second-hand truck running a 94-mile route between Richmond and Norfolk, Virginia. Lillian managed the company's books and dispatch while Earl drove the truck and loaded freight.
How did the Motor Carrier Act of 1980 transform Old Dominion's growth trajectory?
Prior to federal trucking deregulation in 1980, interstate route expansion was strictly controlled by the Interstate Commerce Commission (ICC). While deregulation forced hundreds of unionized carriers into bankruptcy, Old Dominion leveraged its non-union workforce and low cost structure to aggressively expand from a regional southern carrier into a nationwide LTL powerhouse.
When did Old Dominion move its corporate headquarters to Thomasville, North Carolina?
In 1962, Old Dominion acquired Bottoms-Fiske Truck Line and relocated its corporate headquarters to Thomasville, North Carolina, situating itself in the heart of the Piedmont Triad freight and furniture manufacturing corridor.
How did Old Dominion maintain continuous operations during Teamster union strikes in the 1960s?
After enduring disruptive strikes by the Teamsters union in the 1950s and 1960s, Old Dominion shifted toward building a company-first culture with profit-sharing and competitive wages. Today, Old Dominion remains non-union, enabling superior operational flexibility and uninterrupted service.
What was the significance of the 2023 Yellow Corporation bankruptcy for Old Dominion?
In August 2023, Yellow Corporation—one of the largest LTL carriers in the US—collapsed into bankruptcy. Old Dominion served as the initial stalking-horse bidder for Yellow's terminal network with a $1.5 billion offer and ultimately purchased 16 prime service centers at bankruptcy auction for $152 million, expanding its freight capacity.
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