Hub Group Sets Leadership Succession Plan
[Stay on top of transportation news: Get TTNews in your inbox.]
Hub Group has announced a leadership succession plan under which control will remain in the hands of the founding Yeager family.
Longtime CEO David Yeager will retire from the post Jan. 1 after a 26-year run. Yeager, the son of founder Phillip C. Yeager, joined the company in 1975 and rose to the CEO post in 1996. He’s been chairman of the board of directors since 2008.
David Yeager’s son Phillip (Phil) D. Yeager, the company’s president and chief operating officer, will take over as CEO and join the board of directors. David Yeager will remain executive chairman of Hub.
Phil Yeager joined Hub in 2011, and has been COO since 2019. He previously worked in finance roles at BMO Harris Bank and Lazard Freres & Co.
“I am honored to be named the third CEO in our 51-year history,” Phil Yeager said. “I believe we are exceptionally well-positioned to serve our customers, employees, and shareholders while we continue to grow our business to drive long-term success.”
David Yeager said, “Over the last 10 years Phil has been responsible for the development and execution of our strategy to deliver a world class customer experience, enhance our technology, and diversify our service offerings while improving our operational excellence, cost discipline and yield processes. Given his excellent track record and experience with all aspects of our business, I am confident Phil is the right person to lead Hub into the future.”
At the same time as the CEO transition, Brian Alexander will be promoted from executive vice president of logistics to COO, while Brian Meents will be promoted from EVP of account management for sales and marketing to chief marketing officer. Chris Hoffmeister will be promoted from EVP of account management to chief commercial officer.
Hub Group ranks No. 13 on the Transport Topics Top 100 list of the largest for-hire carriers in North America. — Transport Topics
Want more news? Listen to today's daily briefing below or go here for more info:
