Weeks after Forward Air and Omni Logistics made nice and merged following months of litigation, the ground transport logistics provider has ditched its chief executive.
Forward this week announced that chairman and CEO Tom Schmitt has departed the company, with Michael Hance stepping in immediately as his interim replacement. Since joining the logistics firm in 2006, Hance has held legal and governance leadership positions, serving as general counsel since 2008 and chief legal officer since 2014.
Related Stories
The news follows the company’s Jan. 22 announcement that it amended an acquisition agreement with Omni Logistics after seeking to back out of the takeover last fall. Forward accused Omni of failing to comply with certain obligations of the merger, prompting the Dallas, Tex. transportation logistics, supply chain and storage firm to sue to enforce the deal. Forward then countersued for a court order to release it from obligation to acquire Omni despite the two firms’ prior agreement. The transaction closed on Jan. 25.
The leadership shakeup includes the appointment of 28-year employee Chris Ruble, who has served as chief operating officer since 2018, to the role of president and chief operating officer. Ruble architected the firm’s precision execution network and has played an integral role in orchestrating the integration of all Forward’s acquisitions throughout his tenure.
With Schmitt also leaving the Forward board, George Mayes, a member since 2021, has been installed as independent chairman, with the firm citing his experience with global supply chain design and strategy development. New additions to the board also include former Delta Airlines senior executive vice president and chief operating officer Gil West as independent director, and Christopher Schmachtenberger, president and chief investment officer of Timucuan.
According to Forward, the board has formed a search committee for a permanent chief executive. The group, which will include Mayes, R. Craig Carlock, Laurie A. Tucker and Michael Hodge, will retain an independent search firm to help identify the candidate. The board has also created an integration committee to be chaired by West, which will oversee the Omni acquisition and exploit the two firms synergies and growth opportunities.
“After careful consideration, the Board determined that now is the right time to initiate a search for our next CEO to lead Forward during the next phase of our growth and evolution,” Mayes said in a statement. “With Michael serving as interim CEO and Chris as President and COO, we are confident we have trusted leaders to guide us through this next period of transition and position Forward for future success. On behalf of the Board, I want to thank Tom for his years of dedication and leadership.”
Hance said he was honored to take on the role of CEO during the acquisition process. “Together, we will navigate this transitional period as we continue to welcome the Omni team to Forward, execute our growth strategy, deliver for our customers and create long-term value for shareholders,” he said. “I am looking forward to working with the team to position Forward for the next chapter.”
The asset-light transportation provider provides expedited less-than-truckload services like local pick-up and delivery, shipment consolidation and de-consolidation, warehousing, and customs brokerage through a national network of terminals. Forward also offers truckload brokerage and intermodal, first-and last-mile and high-value drayage services.
