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STG Logistics Taps UPS Freight Veteran Holmes as New CEO

STG Logistics named Jack Holmes as chief executive officer effective immediately, tapping the veteran transportation executive to lead the asset-based intermodal marketing company through its next growth phase. Holmes spent 37 years at UPS and previously served as president and chief executive of UPS Freight before retiring in 2016. He replaces Geoff Anderman, who guided the company through recent financial restructuring. The board also appointed Clinton Smith as interim chief financial officer and Cherie Schaible as interim general counsel. Smith brings over 25 years of financial leadership experience, including expertise navigating restructurings at private-equity backed firms. STG's Chapter 11 restructuring reduced funded debt by 90%. Gary Enzor was named chairman. The company appointed four new directors: John Labrie, Joe Troy, Dave Ebbrecht, and Darren Hawkins. Tom Donohue continues as an existing director. Anderman will serve as adviser during the transition.