STG Logistics Appoints Jack Holmes as Chief Executive Officer
The Dublin-based freight provider named interim executives and seated a new board following its debt reorganization.
STG Logistics announced on Oct. 5 that it has appointed former UPS Freight president Jack Holmes as chief executive officer, succeeding Geoff Anderman immediately. Holmes previously led UPS Freight from 2006 until his retirement in 2016.
The Dublin, Ohio-based freight provider announced that Clinton Smith has been named interim chief financial officer and Cherie Schaible has been named interim general counsel, alongside a reconstituted board of directors chaired by Gary Enzor.
The executive changes follow a corporate financial restructuring. STG Logistics announced on May 18 that a federal bankruptcy court approved its reorganization plan. Under the restructuring, the company said it cut nearly $1 billion, or approximately 90%, of its funded debt obligations and transferred ownership to creditor funds managed by affiliates of Fortress Investment Group, Fidelity Management & Research Company, and Invesco Senior Secured Management to back business operations.
STG Logistics announced that outgoing CFO Tyler Holtgreven will remain with the company through a transition period and is scheduled to depart on Nov. 1. The company did not announce severance terms or specific operational changes for regional freight facilities.
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STG Logistics Appoints Jack Holmes as Chief Executive Officer to Lead Next Phase of Growth
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STG Logistics announced on Oct. 5 that it has appointed former UPS Freight president Jack Holmes as chief executive officer, succeeding Geoff Anderman immediately.
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today announced the appointment of Jack Holmes as Chief Executive Officer, effective immediately
STG Logistics announced on Oct. 5 that it has appointed former UPS Freight president Jack Holmes as chief executive officer, succeeding Geoff Anderman immediately.
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Holmes succeeds Geoff Anderman, who has held a leadership position since early 2017
Holmes previously led UPS Freight from 2006 until his retirement in 2016.
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President and CEO of UPS Freight, which he led from 2006 until his retirement in 2016.
The Dublin, Ohio-based freight provider announced that Clinton Smith has been named interim chief financial officer and Cherie Schaible has been named interim general counsel, alongside a reconstituted board of directors chaired by Gary Enzor.
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The Company also named Clinton Smith as interim Chief Financial Officer, succeeding Tyler Holtgreven, and Cherie Schaible as interim General Counsel, succeeding Chase Welsh, and announced new members of its Board of Directors
The Dublin, Ohio-based freight provider announced that Clinton Smith has been named interim chief financial officer and Cherie Schaible has been named interim general counsel, alongside a reconstituted board of directors chaired by Gary Enzor.
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STG has appointed Gary Enzor as Chairman of its Board of Directors
Under the restructuring, the company said it cut nearly $1 billion, or approximately 90%, of its funded debt obligations and transferred ownership to creditor funds managed by affiliates of Fortress Investment Group, Fidelity Management & Research Company, and Invesco Senior Secured Management to back business operations.
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Under Anderman and Holtgreven's leadership, the Company reduced its funded debt by nearly $1 billion, or approximately 90%, positioning STG to invest in the business with the strong backing of its ownership group.
Under the restructuring, the company said it cut nearly $1 billion, or approximately 90%, of its funded debt obligations and transferred ownership to creditor funds managed by affiliates of Fortress Investment Group, Fidelity Management & Research Company, and Invesco Senior Secured Management to back business operations.
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With the full backing of STG's ownership group, led by funds managed by affiliates of Fortress Investment Group, Fidelity Management & Research Company, and Invesco Senior Secured Management
STG Logistics announced that outgoing CFO Tyler Holtgreven will remain with the company through a transition period and is scheduled to depart on Nov. 1.
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Holtgreven played a central role in guiding the Company through its financial restructuring and will remain with STG through November 1 to work with Smith on a smooth transition.
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The Dublin, Ohio-based freight provider announced that Clinton Smith has been named interim chief financial officer and Cherie Schaible has been named interim general counsel, alongside a reconstituted board of directors chaired by Gary Enzor.
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Dublin, OH 43017
STG Logistics announced on May 18 that a federal bankruptcy court approved its reorganization plan.
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today announced that the United States Bankruptcy Court for the District of New Jersey has approved the Company’s Plan of Reorganization (the “Plan”), marking a significant milestone toward the completion of its chapter 11 process in the coming weeks.