STG Logistics announced Monday that Jack Holmes will take over as CEO effective immediately, succeeding Geoff Anderman, who led the company through its most recent financial restructuring. Holmes spent 37 years at UPS, including as president and CEO of UPS Freight before retiring in 2016, and will also serve on STG's board. Clinton Smith was named interim chief financial officer, succeeding Tyler Holtgreven, and Cherie Schaible was named interim general counsel. The news release credited Anderman and Holtgreven with navigating a Chapter 11 restructuring that reduced the company's funded debt by 90%; Anderman will remain as an adviser through the transition and Holtgreven will stay with the company through Nov. 1. STG also appointed Gary Enzor as chairman and named John Labrie, Joe Troy, Dave Ebbrecht and Darren Hawkins as directors, joining existing director Tom Donohue. STG entered a pre-packaged Chapter 11 agreement in January, reducing funded debt by nearly $1 billion and receiving $150 million in new capital from investors including Fortress, Fidelity and Invesco.
CSX Corporation
United Parcel Service Inc
Invesco Plc
