Hub Group Replaces CFO and COO After Accounting Error
Hub Group changed two senior leadership roles as it works through financial restatements tied to a $77 million transportation-expense understatement.
Two Senior Roles Change Hands
Hub Group said its chief financial officer and chief operating officer have left the company while it works through financial restatements tied to an accounting error. CFO Kevin Beth and COO Brian Meents have departed, though both are expected to be available on a consulting basis during the transition.
The intermodal and logistics company named Todd Heeter interim CFO and treasurer, effective immediately. Heeter has about 30 years of finance and accounting experience, and Hub Group said his initial term is expected to run six months while a national search firm looks for a permanent CFO.
The Restatement Issue
The leadership changes follow a financial reporting problem Hub Group disclosed earlier this year. In February, the company said purchased transportation expenses were understated by $77 million across the first three quarters of 2025. That delayed its fourth-quarter and full-year reporting.
Hub Group later said it would need to restate results for 2023 and 2024, while also delaying first-quarter 2026 reporting. The company has said it plans to file its 2025 annual report, including restated periods, by September 14, the deadline tied to regaining compliance with Nasdaq filing rules.
Why It Matters for Freight Customers
The story is less about one accounting line and more about confidence in a major transportation provider's controls. Hub Group is a meaningful intermodal, brokerage, and logistics player, so shippers and fleet-adjacent operators will watch how quickly the company gets current with filings and stabilizes leadership.
For customers, the practical question is continuity. Hub Group said other senior leaders will take over COO responsibilities while the finance review continues.
