Hub Group’s David Yeager is retiring as CEO, triggering several promotions that include one of his sons taking over the helm.
Phillip Yeager will become CEO Jan. 1, and David Yeager will remain as board chair, the company announced in a news release Thursday. The change signals the family’s third generation taking an even greater role in the transportation and logistics management business.
David Yeager’s parents started the intermodal business in 1971 as Hub City Terminals in a one-room office in Hinsdale, Illinois. He joined the company in 1975 and became CEO nearly three decades ago in March 1995 before the company went public in March 1996.
Family members continue to serve key roles in the business, and Phillip Yeager joined the company in 2011 as the director of strategy and acquisitions. After a series of promotions, he became chief commercial officer at age 32 in 2018.
“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,” David Yeager said in the release.
The company also announced other changes, effective Jan. 1:
- Brian Alexander will be promoted from executive vice president of logistics to chief operating officer.
- Brian Meents will be promoted to chief marketing officer from executive vice president of account management, sales and marketing.
- Chris Hoffmeister will be promoted from executive vice president of account management to chief commercial officer.