Hub Group has appointed Gregory D. Bunch, Thomas P. Fitzgerald, Thaddeus J. Malik, and Thomas M. White to its Board of Directors by written consent of shareholders controlling a majority of the company’s voting power.
The shareholders, consisting of members of the Yeager family and related trusts, also removed Michael Flannery, Peter McNitt and Gary Yablon from the board without cause and adopted the company’s Second Amended and Restated Bylaws.
The actions took effect on October 1, 2026.
After delivering the written consent, Mary H. Boosalis, Jenell Ross, and Martin P. Slark each resigned from the board.
Hub Group’s board now consists of seven directors: Chairman David P. Yeager, Vice Chairman Phillip D. Yeager, Gregory D. Bunch, Thomas P. Fitzgerald, James C. Kenny, Thaddeus J. Malik and Thomas M. White.
The company plans to appoint a new Lead Independent Director and reconstitute its standing committees.
Hub Group said it intends to maintain a majority-independent board, fully independent Compensation and Nominating and Governance committees and compliance with Nasdaq and SEC audit committee independence requirements.
The board changes do not affect Hub Group’s management team, corporate strategy or daily operations. David Yeager remains Chairman and CEO, while Phillip Yeager remains President and Vice Chairman.
Bunch is an adjunct professor of entrepreneurship at the University of Chicago Booth School of Business and previously founded Masterplan International Corporation.
Fitzgerald previously served as Chairman and Managing Partner of the Executive Committee at Winston Taylor, formerly Winston & Strawn.
Malik is President and Principal of S2T Solutions and previously practiced at Paul Hastings and Jenner & Block. He also serves as an independent director of CenterPoint Energy.
White previously served as Hub Group’s CFO and Senior Vice President from 2002 to 2007 before becoming an Operating Partner at Apollo Global Management.
The company is separately working to complete its financial restatement and delayed SEC filings during the fourth quarter of 2026.
Nasdaq issued Hub Group a Staff Delisting Determination on September 16 because the company had not filed its 2025 Form 10-K or its Form 10-Q reports for the first and second quarters of 2026.
Hub Group appealed the determination, and Nasdaq granted a stay of the delisting action pending a hearing scheduled for October 27.
KEY QUOTES:
“We believe that the newly appointed directors will bring valuable perspectives and relevant expertise to the Board’s oversight of the Company’s management, business and ongoing initiatives. They intend to work constructively and collaboratively with the continuing directors to advance the best interests of Hub Group and all of its stakeholders. We will remain focused on our long-term strategy to drive growth, profitability and operating cash flows, as we work to deliver for our shareholders, customers and team members.”
David P. Yeager, Chairman and Chief Executive Officer of Hub Group
