Hub Group Names New Leadership Team

Hub Group, a leading transportation and logistics management company, has announced significant leadership changes aimed at driving the business forward into its next phase of growth. Effective immediately, David Yeager, the Executive Chairman, is returning to the roles of Chairman and Chief Executive Officer. Phillip Yeager, currently serving as President and Vice Chairman, will continue in his current position.

In a related development, Hub Group has appointed Patrick O’Donnell as Chief Financial Officer. O’Donnell will assume the role following the completion of the Company’s previously announced financial restatement process, which is expected to be finalized after the issuance of the Company’s financial statements for the fiscal year ended December 31, 2025.

David Yeager expressed confidence in the new leadership team, stating, "Hub Group was founded by the Yeager family more than 55 years ago with a commitment to service, integrity, and innovation. I am confident that this leadership team will help drive the business forward into its next phase of growth. I look forward to partnering with Phil and Pat to deliver excellent results for our shareholders, customers, and team members."

Phillip Yeager echoed his support, adding, "Our team remains focused on fueling the company's success for another five decades and beyond. I look forward to working with Dave, Pat, and the rest of the management team to execute on our strategy, innovate for our customers, and enhance value for our shareholders."

Patrick O’Donnell brings over 20 years of experience in finance and accounting, including roles at TreeHouse Foods and PricewaterhouseCoopers. He is expected to play a crucial role in strengthening financial and operating discipline, driving process improvements, and building high-performing teams. O’Donnell will initially serve as a special advisor and Chief Financial Officer-Elect before assuming the CFO role.

Todd Heeter will continue to serve as Interim Chief Financial Officer, leading efforts to complete the financial restatements. David Yeager highlighted O’Donnell’s expertise, stating, "We are excited to have Pat join the Hub Group team as the company’s next CFO and are confident he is the right leader for our finance organization. His expertise across public company finance, strategic planning, and capital allocation will be invaluable as we continue executing our strategy to drive growth, improve profitability, and enhance cash flow generation."

The press release also noted that Hub Group is currently undergoing a financial restatement process. The Company’s ability to complete this process and regain compliance with Nasdaq’s listing rules is a key focus. The impact of the restatement process and any further delays in the financial close process or related audit are potential risks that could affect the company’s business, financial condition, and results of operations.

Hub Group, with its approximately 6,000 employees and drivers across the globe, continues to focus on providing comprehensive transportation and logistics management solutions. The company’s commitment to service, integrity, and innovation remains at the core of its operations.