Dive Brief:
- STG Logistics named former UPS Freight President and CEO Jack Holmes its chief executive officer, the company announced Oct. 5. His appointment was effective immediately.
- Holmes’ appointment was among other leadership changes at the company, which completed its bankruptcy reorganization in July. Additional C-suite appointments included naming Clinton Smith interim CFO and Cherie Schaible interim general counsel.
- Holmes’ experience in building and scaling businesses make him the right choice to lead STG, Board Chairman Gary Enzor said. Enzor was recently appointed along with four other directors, including former Yellow Corp. CEO Darren Hawkins.
Dive Insight:
With new owners in place, STG Logistics said it has established “a leadership structure aligned with STG’s go-forward priorities.” The company’s court-approved bankruptcy reorganization allowed it to continue operating while eliminating about $1 billion in debt.
Enzor said Holmes’ more than four decades of logistics experience will help guide STG as it accelerates growth and continues investing in the business.
Holmes spent 37 years at UPS per the announcement, serving as the top executive at UPS Freight from 2006 until his retirement in 2016. The former UPS unit was acquired by TFI International for $800 million in a deal that closed in April 2021.
After being named CEO at STG, Holmes, also executive chairman of logistic tech firm Emerge, stepped down from his director role at Werner Enterprises, per a regulatory filing. He had served that post since August 2018, according to his LinkedIn profile.
Holmes, who also was appointed to STG’s board with the series of moves this month, said his immediate priority is investing in the company’s network, driving growth and delivering exceptional service.
Meanwhile, Holmes' predecessor, Geoff Anderman, who led STG since early 2017 and guided the company through its bankruptcy process, will remain with the company as an advisor, the press release said.
Smith, who has more than 25 years of finance experience, succeeds CFO Tyler Holtgreven, who will remain with the company through Nov. 1, the press release said. Smith, whose appointment was effective immediately, will oversee the company’s finance operations as STG searches for a permanent CFO.
Schaible takes over for Chase Welsh who had been chief administrative officer and general counsel since March 2020, according to his LinkedIn profile. Schaible has more than two decades of legal experience and has previous experience working as general counsel for Thrasio, New Era Technology, and Alvaria, businesses that also experienced periods of transformation and transition, the press release said.
In addition to appointing Enzor and Hawkins to its board, STG’s other new directors include former Con-way Freight President and Con-way EVP John Labrie; Joe Troy, operating partner of private equity advisory firm Apax; and Dave Ebbrecht, who served as COO of Kansas City Southern Railway Co. from March 2012 to June 2014.
The new board members join incumbent director Tom Donohue, founder and CEO of The Donohue Group, according to his LinkedIn profile. Donohue served as president and CEO of the American Trucking Associations from 1984 to 1997. He left ATA to become president and CEO of the U.S. Chamber of Commerce, a role he served over two decades until his retirement in March 2021.
