Forward Air

Forward Air taps Ceva unit head as next CEO

Forward Air has named former Ceva Logistics unit head Shawn Stewart as its new CEO effective this coming Sunday. The announcement follows the ouster of former leader Tom Schmitt, which orchestrated a controversial merger with Omni Logistics that finally closed in January after months of litigation.

Stewart brings nearly 30 years of leadership experience in transportation and logistics to Forward (NASDAQ: FWRD). He held various leadership roles at global logistics provider Ceva, mostly recently...

https://www.freightwaves.com/news/forward-air-taps-ceva-unit-head-as-next-ceo

Forward Air’s Q4 call offers no financial targets after Omni merger

Forward Air’s fourth-quarter earnings call didn’t provide the financial targets analysts were seeking following its controversial merger with Omni Logistics. The main takeaway was the company’s disclosure that the combined entity was cash flow-positive during February without any significant help from cost or revenue synergies.

Forward (NASDAQ: FWRD) closed the acquisition of Omni on Jan. 25, more than three months behind schedule. Legal challenges from investors and Forward’s efforts to exit...

https://www.freightwaves.com/news/forward-airs-q4-call-offers-no-financial-targets-after-omni-merger

Investors await Forward Air’s Q4 call for post-merger goal posts

Forward Air missed fourth-quarter expectations Wednesday after the market closed, however, investors and analysts are likely more interested to hear updates on financial targets and the new management structure following the closing of a messy merger with Omni Logistics.

Forward (NASDAQ: FWRD) finally closed on the acquisition of Omni Logistics last month after it attempted to terminate the deal following legal challenges from shareholders. As it sought out of the transaction, Forward alleged...

https://www.freightwaves.com/news/investors-await-forward-airs-q4-call-for-post-merger-goal-posts

Thomas Schmitt out as CEO at beleaguered Forward Air

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Forward Air CEO Thomas Schmitt, who engineered the acquisition with Omni Logistics that has sliced a...

https://www.freightwaves.com/news/thomas-schmitt-out-as-ceo-at-beleaguered-forward-air

Forward Air’s January update excludes status of Omni’s leadership team

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Forward Air provided January volume trends on Monday, its first update following a controversial...

https://www.freightwaves.com/news/forwards-january-update-excludes-status-of-omnis-leadership-team

Ghost jobs haunt the market

Welcome to Check Call, our corner of the internet for all things 3PL, freight broker and supply chain. Check Call the podcast comes out every Tuesday at 12:30 p.m. EDT. Catch up on previous episodes here. If this was forwarded to you, sign up for Check Call the newsletter here.

In this edition: The evolution of ghost jobs that are hiring but really aren’t, and a deal finally closes and moves forward. 

ICYMI, last week on Check Call we had Kevin Kull, senior vice president, sales and operations,...

https://www.freightwaves.com/news/ghost-jobs-haunt-the-market

Omni’s Schickel won’t have executive role at Forward Air

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J.J. Schickel, CEO of Omni Logistics, is not going to join the combined Forward Air-Omni Logistics,...

https://www.freightwaves.com/news/omnis-schickel-wont-have-executive-role-at-forward-air

Forward Air-Omni merger finally closes

Forward Air announced Thursday it has completed the acquisition of Omni Logistics. The transaction’s closing ends a bitter legal dispute between the two parties.

A news release said the deal, which likely closed at a total purchase price of $2.1 billion, is expected to create a “category leader in the expedited LTL market.” The initial price tag of $3.2 billion and the structure of the deal, which didn’t require a vote from stockholders ahead of closing, drew the ire of some of the company’s...

https://www.freightwaves.com/news/forward-air-omni-merger-finally-closes

Forward Air, Omni reach settlement; merger to close soon

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The merger dispute between Forward Air and Omni Logistics was settled just before opening arguments...

https://www.freightwaves.com/news/forward-air-omni-reach-settlement-deal-to-close-soon

Forward Air-Omni merger dustup heads to trial Friday

A merger dispute between Forward Air and Omni Logistics will finally be heard in a courtroom on Friday. The Delaware Court of Chancery will be tasked with determining if Omni breached the deal agreement by failing to meet certain pre-closing conditions and if it misrepresented financial projections as Forward has alleged.

Omni filed suit against Forward at the end of October, saying the less-than-truckload company was seeking to unjustifiably terminate the merger because of the backlash it had...

https://www.freightwaves.com/news/forward-air-omni-merger-dustup-heads-to-trial-friday

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