Longtime Smith Transport COO Michael Donovan retired on Aug. 2, its parent company, Heartland Express, announced in a securities filing.
Donovan received 26,261 shares of Heartland Express common stock in recognition of his service and leadership of the Iowa-based dry van truckload carrier, according to the filing. The award vested immediately.
“Heartland Express, Inc. would like to thank Mr. Donovan for his service and leadership to Smith Transport during his tenure,” the company said in its filing.
Donovan had led Smith Transport’s operations as COO and SVP of sales since 1994, according to his LinkedIn profile. Heartland Express declined to comment on whether he would be replaced or who might succeed him.
His retirement — less than two years after Heartland Express’ $170 million acquisition of Smith — is part of a wave of trucking executives passing the torch in the past year or so.
Bison Transport and Bulldog Hiway Express each also bid farewell to longtime leaders in the past few months.
Retirements are affecting trucking in more than just the C-suite: A looming number of driver retirements is expected to tighten labor capacity across the industry in the next few years.
