Knight-Swift Transportation Holdings Inc. (NYSE: KNX) announced that Kevin P. Knight, co-founder of Knight Transportation and Executive Chairman of the board of directors, is retiring from the company.

Knight served as Chief Executive Officer from 1994 to 2014 and held leadership roles at both Swift Transportation and Knight Transportation before the companies merged in 2017. The Board of Directors appointed Lead Independent Director David Vander Ploeg as Chairman, effective June 3.

Knight will continue serving as a consultant for two years following his retirement as Executive Chairman, according to the company statement.

"I am humbled when I reflect on what we have built together and where our company stands today," Knight said. "For me, our merger with Knight and Swift was our greatest collective achievement."

Adam Miller, Chief Executive Officer of Knight-Swift, said Knight's influence extended throughout the industry. "It cannot be overstated what Kevin has meant to our company, so many of our leaders, including myself, and so many more within our industry," Miller stated.

Knight-Swift operates one of North America's freight transportation networks, providing full truckload, less-than-truckload, intermodal, and logistics services. The company maintains business units and terminals across the United States and Mexico.