Hub Group has announced a series of executive leadership changes as the company continues work on the restatement of prior financial results and enhancements to its financial reporting processes.
Todd Heeter has been appointed interim Chief Financial Officer and Treasurer, effective immediately. He brings more than 30 years of finance and accounting experience to the role, having previously founded The Heeter Group, which provides CFO, chief accounting officer and strategic advisory services to public and private companies across multiple industries including manufacturing, distribution, technology and healthcare.
The appointment follows the departure of Kevin Beth from his role as Executive Vice President, Chief Financial Officer and Treasurer, alongside the departure of Brian Meents as Executive Vice President and Chief Operating Officer. Both executives will remain available to the company in consulting capacities during a transition period.
“The Hub Group Board of Directors views the integrity of the company’s financial statements as a key pillar of our ongoing success,” said Peter McNitt, Lead Director, and Gary Yablon, Chair of the Audit Committee.
“In connection with the review conducted under the direction of the Audit Committee, we are taking corrective actions, including enhancing our financial reporting processes and making changes to the company’s leadership team. We will continue to prioritise finalising our financial statements and becoming current with the filing of our periodic reports with the SEC.”
David Yeager, Executive Chairman, said the company welcomed Heeter’s experience as it works through the restatement process.
“Todd is a seasoned finance and accounting executive with many years of experience stepping into roles such as this one,” said Yeager.
“I look forward to working closely with him, Phil and the rest of the team as we continue to focus on delivering for the company’s customers and shareholders. We remain confident in Hub Group’s opportunities ahead.”
Heeter’s interim appointment is initially set for six months, with the company already commencing a search for a permanent CFO through a national executive search firm. Chief Operating Officer responsibilities will be redistributed among senior leaders during the transition.
Hub Group also provided an update on its accounting review, confirming it continues work to complete the restatement of previously issued financial statements for the 2023 and 2024 financial years, along with quarterly periods during 2025.
The company expects to file its 2025 Form 10-K, including restated results, and its first quarter 2026 Form 10-Q by 14 September 2026.
Despite the financial review, President, Chief Executive Officer and Vice Chairman, Phil Yeager, said second quarter trading had remained steady.
“In the second quarter of 2026 to date, we executed a successful bid season and saw balanced demand trends and stronger pricing as well as increased opportunity for over the road conversion,” he said.
Yeager added that the company had continued onboarding new logistics business while focusing brokerage operations on improving profitability and increasing revenue per load.
“With our strong customer relationships and leading market position, our team continues to work to drive growth, improve profitability and increase operating cash flows,” he said.
In other news, TIP Group has announced an executive appointment.
.png){kind=small}
.jpg)
.jpg)
