Hub Group Announces New CFO and Updates on Accounting Error Restatements
Hub Group Inc., a transportation and logistics company based in Oak Brook, Illinois, has announced leadership changes following an accounting error. The firm named Patrick O'Donnell as its incoming Chief Financial Officer (CFO) after he joined the company as a special advisor and CFO elect. David Yeager, son of the late founder Phillip Yeager, is returning from retirement to serve once again as CEO alongside his role as executive chairman. The changes come in response to an $77 million accounting error identified earlier this year related to transportation costs. Hub Group has been working on restating its financial statements for the past three years and plans to file a delayed 10-K form after completing these corrections. The company also confirmed that Todd Heeter will continue as interim CFO during the transition period. O'Donnell brings extensive experience from his previous role at TreeHouse Foods, where he served as Executive Vice President and CFO since April 2023.
Topics: accounting error restatement CEO change CFO appointment