The Chief Executive Officer (CEO) of Forward Air, Tom Schmitt, has officially left the company. This comes shortly after Forward Air’s decision to proceed with the acquisition of freight forwarder Omni Logistics at a reduced price from the initial agreement.
Schmitt had been serving as CEO of Forward Air since 2018. In his absence, Michael Hance, the current Chief Legal Officer and Secretary of Forward Air, will serve as interim CEO.
Alongside this leadership change, George Mayes, a member of the board, has been appointed as chairman. Additionally, the board has welcomed two new members: Gil West, the former Chief Operating Officer of Delta Air Lines, and Christopher Schmachtenberger, Chief Investment Officer of Timucuan.
In light of the recent developments, Forward Air has established a search committee to find its next CEO. The board has also formed an integration committee to facilitate the execution of the Omni deal.
The revised merger agreement between Forward Air and Omni, which includes a reduced price, was reached last month. This agreement was reached following shareholder opposition and the threat of dropping the original deal by Forward Air. Omni responded by suing Forward Air in an attempt to ensure the completion of the deal.