The Hub Group has tapped a consultant to its board of directors and a former executives who has filled multiple roles as president and COO, replacing Mark Yeager who abruptly left both positions in August.
Since January Donald G. Maltby has served as consultant to the intermodal services provider’s board of directors, and before that he served variously as the company as chief strategy officer, chief supply chain officer, executive vice president logistics services, and president of both Hub’s Cleveland and online operations. Before joining Hub he worked at various management positions in Lyons Transportation, including vice president of marketing and sales.
Yeager’s brother David, who is chairman and CEO, held the positions of COO and president before Maltby was hired. Both are sons of the company’s founder, Phillip C. Yeager.
In the company’s most recent quarterly report, Hub reported a 1 percent year-over-year decline in net income, at $18.5 million, in the second quarter, despite intermodal volume jumping 6 percent. Still, it was a noticeable improvement from the first quarter, when net income fell 16.5 percent to $10.3 million, revenue shrank 1.5 percent and intermodal traffic inched up only 1 percent.