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Hub Group CFO, COO Exit Amid Financial Restatement

Hub Group announced Thursday that Chief Financial Officer Kevin Beth and Chief Operating Officer Brian Meents have departed the company. The multimodal transportation company is navigating a significant accounting correction after discovering a $77 million understatement of purchased transportation expenses for the first three quarters of 2025. The error prompted a broader financial restatement now extending to 2023 and 2024 results. Todd Heeter, bringing 30 years of finance and accounting leadership experience, assumes the interim CFO role effective immediately for a planned six-month term. The company engaged a search firm to identify a permanent CFO while senior leaders will absorb COO responsibilities. Hub Group aims to file its 2025 annual report—including restated figures—by September 14 to maintain Nasdaq compliance, alongside first-quarter 2026 results. Both departing executives remain available as consultants during the transition period.