Good morning, and welcome to the 2018 Annual Shareholders Meeting of Schneider National Incorporated. I'm Dan Sullivan, Chairman of the Board of Directors of Schneider. It is my pleasure to welcome all of the shareholders attending through our web portal for our first annual meeting as a public company. We will conduct the business portion of our meeting first, followed by some remarks by our CEO and a question-and-answer session. It is now shortly after 8:00 A.M. Central Time on April 23, 2018, and this meeting is officially called to order. The meeting is scheduled to last until 8:30 A.M. Now, I would like to introduce the other members of Schneider's Board of Directors. Chris Lofgren is Schneider's President and Chief Executive Officer, and has served as one of our directors since 2002.
Tom Gannon has served as one of our directors since 2005. He retired as a Schneider executive in 2017 after serving in various roles during his 35 years with the company. Jim Gietzen has served as one of our directors since 2017. He was Chief Financial Officer of H.B. Fuller Company from 2008 until 2016. Retired from that company in 2017. Adam Godfrey has served as one of our directors since 2005. He is a Managing Partner of Stella Point Capital, which he co-founded in 2012. Bob Grubbs has served as one of our directors since 2012. He is the Non-Executive Chairman of Ohio Transmission Corporation and Grand Northern Products.
Norman Johnson has served as one of our directors since 2006. He is also a member of the Board of Directors of Cracker Barrel Old Country Store Incorporated. Therese Koller has served as one of our directors since 2016. She engages in philanthropic work and serves on the boards of a variety of nonprofit organizations. Kathleen Zimmerman has served as one of our directors since 2017. She is a real estate investor. In addition to our directors, representatives of Deloitte & Touche, our independent auditors, are also in attendance at today's meeting. They will be available during the question-and-answer session after the meeting to respond to questions. Paul Kardish, our Executive Vice President, General Counsel, and Corporate Secretary, will be acting as secretary for today's meeting. I will now turn things over to Paul for the business portion of the meeting.
Thanks, Dan. I would like to first remind everyone listening to today's meeting that some of the comments made are forward-looking statements. These statements are subject to risks and uncertainties, including those described in our filings with the Securities and Exchange Commission. Our actual results may differ materially from those described during the meeting. In addition, any and all forward-looking statements are made as of today, and Schneider does not undertake to update any forward-looking statements based on new circumstances or revised expectations. Next, I would like to introduce Jean Castillo of Broadridge Financial Services, who has been appointed to act as Inspector of Election at today's meeting. Ms. Castillo is with us today and has taken the Inspector of Election oath. I've received an affidavit of mailing from Broadridge advising the notice of the meeting was provided to shareholders in keeping with the applicable requirements.
Specifically, on or about March 8, 2018, either a notice of internet availability of the annual meeting documents or the documents themselves were mailed to all shareholders who own shares as of February 22, 2018, which is the record date for today's meeting. Our shareholder list shows that as of the record date, there were 83,029,500 shares of Class A common stock and 93,885,659 shares of Class B common stock outstanding and entitled to vote at this meeting. We are informed by the Inspector of Election that there are represented in person or by proxy shares of common stock, representing more than a majority of the votes entitled to be cast on annual meeting matters as of the record date.
Accordingly, a quorum is present for purposes of transacting business. The polls are now open. Any shareholders who haven't yet voted or wish to change their votes may do so by clicking the voting button on the web portal and following the instructions there. Shareholders who send in proxies or voted by telephone or internet and who do not want to change their vote do not need to take any further action. Proposals. As described in our proxy statement, there are four matters to be voted on at today's meeting. Proposal one is the election of directors. The current board has nominated nine individuals for election as directors to hold office until the 2019 annual meeting of shareholders and until their successors are duly elected and qualified.
The nine director nominees are Mary DePrey, Thomas A. Gannon, James R. Gietzen, Adam P. Godfrey, Robert W. Grubbs, Norman E. Johnson, Christopher B. Lofgren, Daniel J. Sullivan, and Kathleen M. Zimmerman. Proposal two is a ratification of the appointment of Deloitte & Touche to serve as our independent registered public accounting firm for 2018. Proposal three is an advisory vote to approve the compensation of our named executive officers.... Proposal four is an advisory vote on the frequency of future advisory votes to approve the compensation of our named executive officers.
Now that everyone has had the opportunity to vote, I declare the polls for the 2018 Annual Shareholder Meeting of Schneider National Incorporated closed. We have been informed by the Inspector of Elections that the preliminary vote report shows that each of the nominees for election to the board has been duly elected. The appointment of Deloitte & Touche has been ratified.
The compensation of our named executive officers has been approved by advisory vote, and the frequency of one year for future advisory votes on compensation has been approved by advisory vote. We will be reporting the final voting results in a Form 8-K, to be filed with the SEC within four business days. This concludes the business portion of our meeting. I now turn it back over to our Chairman, Dan Sullivan.
Thank you, Paul. It's now time for Chris Lofgren, our President and Chief Executive Officer, to provide some comments on the business, after which we will take shareholder questions. If you would like to submit a question, please use the designated field on the web portal to do so. Out of consideration for others, please limit yourself to one question. We will try to answer as many questions as time allows, but only questions that are relevant to the meeting will be addressed. Any relevant questions that we do not get to today, will be addressed either directly with the shareholder who submitted the question or on our company website. With that, I will turn things over to Chris.
Good morning, everyone. Thank you for joining the meeting. 2017 was an unusual year. It began with challenging market conditions, which significantly improved later in the year. Driver capacity challenges existed throughout all of 2017. Recruiting and retaining drivers was a significant effort for us. Driver cost increases exceeded pricing actions for most of the year, what we refer to as net price, but turned positive in the last four months of the year as demand improved and pricing accelerated. In a trying year, our truckload segment effectively managed its network and its fleet, resulting in improved productivity and yield. In our intermodal segment, we converted our fleet to own chassis, the wheels under the container that rides the railroad. The benefits of this showed in the third and fourth quarters, reaping both hard and soft savings from this effort.
Logistics remained our fastest growing segment and is complementary to all three. Each of the segments has significant size, scale, and competitive margins, which we believe is important to compete. For 2018, we're encouraged by market indicators. The broad portfolio of services allows us to capitalize on market opportunities and increase our ability to serve our customers in these high-demand, capacity, strength-constrained times, without over-committing to long-term capital expenditures. We intend to continue to be the provider of choice for our customers. We anticipate tight capacity through 2018. We have plans to expand our industry-leading technologies, continuing with our Moneyball of trucking approach. As stated by Michael Lewis, the author of Moneyball, "People operate with beliefs and biases.
To the extent you can eliminate both and replace them with data, you gain clear advantage." This is the foundation of our Quest platform, and we will continue to enhance its capabilities as a prime directive in the enterprise. Going forward, our focus is and will continue to be on revenue management as well as productivity of our drivers and non-driver associates. Our professional driver workforce is our most important asset. We intend to continue to be the carrier of choice for drivers through our pay-for-performance philosophy, our continual reinvestment in equipment, and numerous targeted work designs. This will become increasingly more important as an aging workforce and a full employment economy continues.
From 1935, when Al Schneider sold his family car to buy the first truck, to Don Schneider revolutionizing trucking with satellite communications, to more recently digitizing the value chain and implementing the Quest technology platform, Schneider's achieved a level of excellence that has made us a resilient leader, regardless of market conditions. For over 80 years, we've operated as a private company, and now for our first year as a public company. Through all the years, we've continued to maintain our enterprise, mission, vision, and core values. We refer to it as the Schneider Way. We will continue to look into the future as we build upon that legacy, committed to our customers, our associates, our community, and providing admirable returns to our shareholders.
In closing, I want to personally thank all of you shareholders who have trusted in us and are now a part of the Schneider journey. We will continue to strive to exceed your expectations. With that, we will open it for questions. But Dan, I don't see any, so I will turn the meeting back over to you.
Okay. Thank you, Chris. The 2018 Annual Shareholders Meeting of Schneider National, Incorporated is now adjourned. Thank you again for attending our annual meeting. We appreciate your interest and support of Schneider, and hope you will join us again next year.