J.B. Hunt Transport Services announced Monday changes to the executive management team as it prepares for an eventual upturn in the freight market.
Nick Hobbs will continue as chief operating officer and will become president of highway services and the final-mile segment. Hobbs will oversee the company’s brokerage and truckload businesses as the head of highway services.
The company reported a seventh consecutive operating loss in its brokerage segment during the third quarter.
Hobbs was previously head of contract services. He has been with the company for 40 years.
Eric McGee will continue as executive vice president of highway services while Brian Webb will remain as executive vice president of final mile.
Brad Hicks has been named president of J.B. Hunt’s (NASDAQ: JBHT) dedicated unit. He previously ran highway services and served as executive vice president of people. In his new role, he will focus on expanding the dedicated group’s “future market size opportunity.”
Hicks was executive vice president of dedicated from 2017 to 2020. He has been with the company for 28 years.
David Keefauver will become executive vice president of people. Keefauver has been with the company for nearly 30 years, most recently as executive vice president of dedicated.
“We are in a position to deliver exceptional value for our customers and shareholders throughout our full suite of services, and these changes align the strengths and experience of our executives to lead and grow these services into the future,” said Shelley Simpson, J.B. Hunt’s president and CEO, in a news release.
The changes are effective Dec.1.
Hobbs, Hicks and Keefauver will report to Simpson.
“As we navigate current market dynamics and prepare for a return to more normal seasonal demand patterns, we anticipate a large addressable opportunity to capture additional market share and see greater returns on our strategic investments,” Simpson said.
