From Yahoo Finance: 2025-06-18 10:15:00

Forward Air Corp. chairman George Mayes, Jr. resigned after failing to secure enough votes in a shareholder election. Activist investor Ancora pushed for change and called for a sale of the company. With Mayes out, potential buyers like Blackstone and Apollo are expressing interest in acquiring Forward Air.

Following an unsuccessful acquisition of Omni Logistics, Forward Air faced backlash from shareholders and analysts. The deal left Forward Air heavily indebted and facing legal battles with Omni Logistics. The merger resulted in the departure of both CEOs and prompted a strategic review of the company.

In response to shareholder pressure, Forward Air’s board appointed Jerome Lorrain as executive chairman to replace Mayes. Paul Svindland joins as lead independent director. The board has been revamped to include independent members, signaling a new chapter for the company after recent turmoil.



Read more at Yahoo Finance: Forward Air Chairman Ousted, Potential Sale Appears in View