Forward Air Corporation Announces Executive Leadership Team Transition
Forward Air Corporation (Nasdaq: FWRD) today announced that its Board of Directors has approved a number of key strategic leadership changes as part of its succession planning process. Thomas (Tom) Schmitt has been elected to serve as the Company’s President and Chief Executive Officer, succeeding Bruce A. Campbell, who has served as President since 1998 and as Chief Executive Officer since October 2003. Mr. Schmitt currently serves as a Management Board member and the Chief Commercial Officer for Schenker AG, a $20 billion global logistics company. He joined Schenker AG as a member of the Management Board in June 2015. Mr. Schmitt will begin serving as President and CEO of Forward Air effective upon his departure from Schenker AG after a coordinated transition plan expected to be completed in the Fall 2018. The Board expects to appoint Mr. Schmitt to the Forward Air Board of Directors at that time.
Before becoming the Chief Commercial Officer for the contract logistics business of Schenker AG, Mr. Schmitt served as Chief Executive Officer and President of AquaTerra Corporation, an office nourishment and premium water export company based in Canada, from January, 2013. Mr. Schmitt has prior experience in the transportation and logistics industry, initially as a senior engagement manager for McKinsey+Company in Atlanta and subsequently in executive management roles, including President and CEO, FedEx Global Supply Chain Services, and President and CEO, Purolator, Inc. based in Memphis, Tennessee, and Toronto, Canada, respectively.
Mr. Bruce Campbell, who has also served as Chairman of the Company’s Board since 2007, will step down from his role as President and Chief Executive Officer when Mr. Schmitt joins the Company. At that time, Mr. Campbell will become Executive Chairman. In that role, Mr. Campbell will continue to serve as Chairman of the Board of Directors. It is expected that Mr. Campbell will remain as Executive Chairman until the Company’s 2019 annual meeting of shareholders, at which time, in order to ensure a continued, successful management transition, the Company plans to retain Mr. Campbell as a consultant for a period of time following his resignation as Executive Chairman.