Hub Group, Inc. Announces Leadership Succession Plan Implementation
November 17 2022 - 9:00AM
Hub Group, Inc. (NASDAQ:HUBG) today announced that, as part of a
planned succession process, its Board of Directors approved several
leadership changes that will become effective January 1, 2023.
After serving as Chief Executive Officer of Hub Group for
twenty-six years, David P. Yeager will retire as CEO while
continuing in the role of Executive Chairman of Hub Group. David
Yeager joined Hub Group in 1975, became CEO in 1996 and has served
as Chairman of the Board of Directors since 2008. In his new role,
David Yeager will work closely with the new CEO to facilitate a
seamless leadership transition and continue to drive the next phase
of the Company’s growth.
Phillip D. Yeager, currently President and Chief
Operating Officer of Hub Group, will succeed David Yeager as the
Company’s President and Chief Executive Officer. In his new role,
Phil Yeager will join the Board of Directors of Hub Group effective
January 1, 2023. Phil Yeager joined Hub Group in 2011 and has held
leadership roles in several of the Company’s operations. Most
recently, he served as President and Chief Operating Officer since
2019. Prior to joining Hub Group, Phil Yeager served in finance
roles at BMO Harris Bank and Lazard Freres & Co. He received
his MBA from the University of Chicago.
“My parents started our business over 50 years
ago in a one-room office in Hinsdale, Illinois. Through the success
of a great team we have grown into a diversified supply chain
solutions provider with nearly 6,000 dedicated, hardworking
employees and over $5 billion in revenue,” said Dave Yeager. “Over
the last ten 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.”
“I am honored to be named the third CEO in our
51-year history,” said Phil Yeager. “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.
I want to thank the Board of Directors for their trust and
confidence in me and I look forward to continuing to work with the
Hub Group team to deliver exceptional performance.”
In addition, Hub announced several other
leadership changes effective January 1, 2023. Brian Alexander will
be promoted from Executive Vice President, Logistics to Chief
Operating Officer. Brian Meents will be promoted from Executive
Vice President, Account Management, Sales and Marketing to Chief
Marketing Officer. Chris Hoffmeister will be promoted from
Executive Vice President, Account Management to Chief Commercial
Officer.
ABOUT HUB GROUP: Hub Group offers comprehensive transportation
and logistics management solutions. Keeping our customers’ needs in
focus, Hub Group designs, continually optimizes, and applies
industry-leading technology to our customers’ supply chains for
better service, greater efficiency, and total visibility. As an
award-winning, publicly traded company (Nasdaq: HUBG) with over $5
billion in revenue, our nearly 6,000 employees across the globe are
always in pursuit of “The Way Ahead” – a commitment to service,
integrity, and innovation. For more information, visit
hubgroup.com.
SOURCE: Hub Group, Inc. |
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CONTACT: Geoff DeMartino of Hub Group, Inc.,
+1-630-271-3623 |
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