The CFO and COO of transportation and logistics firm Hub Group have both departed in the wake of a $77 million accounting error the company identified earlier this year.
In a Thursday news release, Hub Group officials said that Kevin Beth has left his role as executive VP, CFO and treasurer, while Brian Meents has stepped down from his role as executive VP and chief operating officer. The company said that both will remain available “on a consulting basis for a transition period,” though it did not specify how long that would last.
According to his LinkedIn profile, Beth has worked at Hub Group since 2003. An archived version of his biography page on the company’s website shows that he was named CFO in 2024. Both executives’ bio pages appear to have been scrubbed from Hub Group’s site as of Friday morning, with both returning “page not found” errors.
Meents, meanwhile, has worked at Hub Group since 2016, according to his LinkedIn page.
In the release, Hub Group said it has appointed Todd Heeter as interim CFO and treasurer for six months while it conducts a national search for Beth’s replacement. The company’s COO responsibilities “will be absorbed by other senior leaders,” the release said.
Though the release did not directly implicate Beth or Meents in the accounting error, it included a quote from two board leaders saying the board “views the integrity of the Company’s financial statements as a key pillar of our ongoing success.”
Peter McNitt, lead director, and Gary Yablon, chair of the company’s audit committee, noted that the board has conducted a review “under the direction of the Audit Committee” and is taking “corrective actions, including enhancing our financial reporting processes and making changes to the Company’s leadership team.”
In February, Hub Group said it had “identified an error that resulted in the understatement of purchased transportation costs and accounts payable in the first nine months of 2025.”
“The total amount of the reduction to accounts payable and purchased transportation costs related to this issue that was recorded during these periods is $77 million,” the company said at the time.
Hub Group on Thursday said it is working “diligently” to restate financial statements for 2023, 2024 and the first three quarters of 2025. The company said it expects to file its 2025 annual report with the Securities and Exchange Commission on or before Sept. 14.
Meanwhile, New York law firm Kirby McInerney LLP said on Thursday it is investigating Hub Group “concerning the Company’s and/or members of its senior management’s possible violation of the federal securities laws and other unlawful business practices.”
The law firm pointed to Hub Group’s February announcement that it would delay its 2025 full-year financial results. In a Thursday news release, Kirby McInerney noted that no lawsuit has been filed yet. “The investigation is ongoing to determine whether claims may be brought under federal securities laws,” the law firm said.
A spokesperson for Hub Group didn’t immediately respond Friday to emailed questions about the lawsuit or the departures of the CFO and COO.
