Mark Yeager resigned his position as president and chief operating officer of Hub Group effective August 8, but will remain a member of the company's board of directors.
David Yeager, Hub's chairman and CEO and Mark's brother, will assume Mark's responsibilities on an interim basis while the company selects a replacement. He has been with Hub for 40 years.
"Mark worked at Hub for 23 years with steadily increasing responsibility," commented David Yeager. "On behalf of Hub Group, I would like to thank Mark for his valuable contributions to Hub Group's success and wish him the best in his future endeavors."
Hub Group is an asset-light freight transportation management company providing intermodal, truck brokerage and logistics services.
Mark Yeager has been vice chairman of the board since November 2008, Hub Group’s president since January 2005 and chief operating officer since May 2004, according to the company's website. Prior to joining the company in 1992, Mark practiced law.
The company recently reported a small drop in second quarter income, as intermodal revenue increased 2% over the previous year's period to $465 million and truck brokerage revenue increased 8% to $93 million.
Hub Group said the intermodal rail service of its two major partners, Union Pacific Railroad and Norfolk Southern Railway, is improving. That helped it deliver better numbers than the first quarter of the year, when net income fell 16.5% to $10.3 million.