Hub Group overhauls board amid Nasdaq delisting threat

Hub Group, Inc. (Nasdaq: HUBG) announced changes to its board of directors after shareholders representing a majority of the combined voting power acted by written consent on October 1, 2026.

The Yeager family and related trusts, as controlling shareholders, appointed Gregory D. Bunch, Thomas P. Fitzgerald, Thaddeus J. Malik and Thomas M. White to the board, while removing Michael Flannery, Peter McNitt and Gary Yablon without cause. The company also adopted its Second Amended and Restated Bylaws. Subsequently, directors Mary H. Boosalis, Jenell Ross and Martin P. Slark resigned, effective October 1, 2026.

The board now consists of seven directors: David P. Yeager as chairman, Phillip D. Yeager as vice chairman, and the four newly appointed members alongside James C. Kenny. The board said it intends to appoint a new lead independent director and reconstitute its standing committees.

The board changes do not affect the company's management team, strategy or day-to-day operations. David P. Yeager remains chairman and chief executive officer, and Phillip D. Yeager remains president and vice chairman.

The announcement comes as Hub Group faces a potential delisting from Nasdaq. On September 16, 2026, the company received a Staff Delisting Determination from Nasdaq's Listing Qualifications Department due to its failure to file its Annual Report on Form 10-K for the year ended December 31, 2025, and its Quarterly Reports on Form 10-Q for the periods ended March 31, 2026 and June 30, 2026. The company has appealed the determination, and a hearing before the Nasdaq Hearings Panel is scheduled for October 27, 2026. A stay of the delisting action has been granted pending the hearing's outcome.

Hub Group said its finance and accounting team continues to work to complete a restatement process and file delayed periodic reports, with completion expected in the fourth quarter of 2026.

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