According to www.freightwaves.com, STG Logistics has appointed Jack Holmes as its new chief executive officer, effective immediately, following a successful financial restructuring that reduced the company’s funded debt by 90%.
Leadership Transition and Restructuring Milestones
Holmes succeeds Geoff Anderman, who became CEO in April 2025 and had held leadership roles at the intermodal marketing company since 2017. Anderman will remain with STG Logistics as an adviser during the transition. The company credited him and outgoing CFO Tyler Holtgreven for steering STG through Chapter 11 bankruptcy, which slashed nearly $1 billion in funded debt.
Holmes brings 37 years of experience from UPS, where he served as president and CEO of UPS Freight before retiring in 2016. He will also join STG’s board of directors. Interim CFO Clinton Smith, who has over 25 years of financial leadership experience in private-equity backed restructurings, replaces Holtgreven, who will stay with the company until Nov. 1.
“The Board selected Holmes for the industry knowledge and operational expertise needed to build on the Company’s financial and operational progress, and to drive its continued growth.” — News release
Board Appointments and Strategic Direction
Gary Enzor has been named chairman of STG Logistics. Enzor previously led Quality Distribution—the largest liquid bulk chemical trucking network in North America—from 2004 until its sale to CSX in 2021. He emphasized Holmes’ deep operational background and business-scaling experience as critical for STG’s next phase.
New directors include transportation and logistics executives John Labrie, Joe Troy, Dave Ebbrecht, and Darren Hawkins. Hawkins previously led Yellow Corp., which ceased operations in July 2023. They join existing director Tom Donohue to form an expanded board focused on stabilizing and growing the intermodal carrier.
“Jack has spent his entire career in this industry, from the loading dock to the CEO’s office, and he brings a rare combination of operational depth and experience building and scaling businesses.” — Gary Enzor, Chairman
Capital Infusion and Market Impact
STG Logistics entered a pre-packaged Chapter 11 agreement in January, emerging with $150 million in new capital from investors including Fortress, Fidelity, and Invesco. This recapitalization preserved critical capacity in the intermodal freight sector amid ongoing market volatility.
The restructuring not only cut debt by 90% but also positioned the company to invest in operations under new leadership. Enzor acknowledged Anderman and Holtgreven for delivering “a strong foundation and real momentum” during one of the company’s most pivotal periods.
Industry observers note that STG’s stabilized financial footing—backed by substantial debt reduction and fresh equity—helps maintain competitive options for shippers reliant on asset-based intermodal services.
Source: FreightWaves
Compiled from international media by the SCI.AI editorial team.
