Forward Air is replacing Chairman, President and CEO Tom Schmitt, the company announced Wednesday, after an unsuccessful effort to scuttle a $3.8 billion merger with Omni Logistics that closed last month.
The company gave no reason for the departure of Schmitt, who is also no longer on the company’s board. He had been chairman and CEO since September 2018, according to his LinkedIn.
George Mayes, a board member since 2021, replaces Schmitt as chairman, the company said.
Mayes said the board determined it was the right time to find a new CEO. A board search committee will be aided by an independent firm to find a permanent replacement, the company said.
“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.
Chief Legal Officer and Secretary Michael Hance was appointed interim CEO. He will continue in his current role as the company seeks a permanent replacement, the company said.
In another executive move, the company named Chris Ruble as president and COO. He had been COO since 2018 and has worked for the company since 1996.
Mayes believes Hance and Ruble can effectively guide the company until a new CEO is hired.
“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,” Mayes said in a statement.
Forward Air also added Gil West, former senior EVP and COO at Delta Air Lines, as an independent director, and Christopher Schmachtenberger, president and chief investment officer of Timucuan, also was named to its board.
The company’s board also formed a committee, which will be led by West, to oversee the integration of Omni into the business. Forward Air completed its merger with Omni Logistics on Jan. 25.
