Schmitt is out as Forward Air CEO and President

A change at the top is coming for Greeneville, Tenn.-based asset-light freight and logistics services provider Forward Air, with the company announcing today that company Chief Executive Officer and President Tom Schmitt has left the company. The company added that Schmitt is also no longer a member of the company’s Board.

A reason for Schmitt’s departure was not provided.

Replacing Schmitt will be Forward’s Chief Legal Officer and Secretary Michael Hance, whom will serve as Interim Chief Executive Officer. Hance has been with Forward Air since 2006, having served in various positions, including General Counsel since 2008 and Chief Legal Officer since 2014, as well as leading the Company’s Human Resources department from 2010 to 2014.

Forward added that Chris Ruble, Chief Operating Officer since 2018 and an employee at Forward since 1996, has been appointed President and Chief Operating Officer. While serving in a variety of operational leadership roles during his 28 years with Forward, the company said he has served as the architect of the Company’s precision execution network and played a critical role in the successful integration of all of Forward’s acquisitions.

“After careful consideration, the Board determined that now is the right time to initiate a search for our next CEO to lead Forward during the next phase of our growth and evolution,” said George Mayes, who has served on the Forward Board since 2021, and appointed Independent Chairman today. “With Michael serving as interim CEO and Chris as President and COO, we are confident we have trusted leaders to guide us through this next period of transition and position Forward for future success. On behalf of the Board, I want to thank Tom for his years of dedication and leadership.”

Late last month, Forward Air completed its acquisition of Dallas-based Omni Logistics, an asset-light, high-touch logistics and supply chain services provider. While this transaction finally came to fruition, the path to getting there was far from smooth.

Following the August 2023 announcement of Forward planning to acquire Omni, Forward said in October it believed that Omni did not comply with certain obligations of the merger agreement, adding that it believed the closing conditions of the agreement “will not be satisfied at the anticipated closing of the transactions under the Merger Agreement, and Forward will not be obligated to close,” and “As a result, Forward is considering its rights and obligations under the Merger Agreement, including potentially exercising its right to terminate the Merger Agreement.”

That led to an ongoing back-and-forth between the companies over the following months that put the completion of the deal in jeopardy.

Forward said its board has established an Integration Committee charged with overseeing the integration of Omni “and to capitalize on the attractive growth opportunities and synergy potential that the acquisition presents.” And it added that the Forward Board has formed a Search Committee to identify a permanent CEO replacement.