Moves to align strengths, experience and address market potential

J.B. Hunt Transport Services Inc. (NASDAQ:JBHT), one of the largest supply chain solutions providers in North America, today announced the following changes to its executive leadership team:

Nick Hobbs, continuing his duties as Chief Operating Officer, has been named President of Highway and Final Mile Services® (FMS)
Executive Vice President Brad Hicks has been named President of Dedicated Contract Services® (DCS®)
David Keefauver has been named Executive Vice President of People

"We are in a position to deliver exceptional value for our customers and shareholders throughout our full suite of services, and these changes align the strengths and experience of our executives to lead and grow these services into the future," said Shelley Simpson, president and CEO. "As we navigate current market dynamics and prepare for a return to more normal seasonal demand patterns, we anticipate a large addressable opportunity to capture additional market share and see greater returns on our strategic investments."

Nick Hobbs will become President of Highway and FMS, in addition to remaining Chief Operating Officer. As President of Highway Services, Hobbs will oversee the company's Integrated Capacity Solutions (ICS) and Truckload (JBT) business units. His steady and disciplined approach led DCS and FMS to premier status as providers for private fleet replacement and big and bulky services. Hobbs recently celebrated 40 years with the company.

As COO, Hobbs will continue to collaborate with all division operators to align the company's Customer Value Delivery® efforts across our organization and oversee the company's maintenance and safety performance, led by Greer Woodruff, EVP of Safety, Sustainability and Maintenance. Eric McGee and Brian Webb will remain in their current roles as EVP of Highway Services and EVP of FMS, respectively, and support Hobbs in the leadership of these business units.

Brad Hicks will assume the role of President of Dedicated Contract Services, having spent more than 25 years working across the company's DCS segment, and will focus on expanding the business unit's future market size opportunity. Previously serving as President of Highway Services, Hicks also served as Executive Vice President of DCS from 2017 to 2020, strengthening relationships with existing customers and driving new business opportunities. In his role as EVP of People, he also led the company's efforts to support employees through enhancements to our wellness and benefits, career growth and an inclusive culture. Hicks has 28 years of experience with the company.

David Keefauver has been named EVP of People, bringing his people-first mindset to a new role and driving greater efficiencies across the organization's personnel groups. Previously EVP of DCS, Keefauver has consistently leveraged his extensive operations experience, people leadership skills and focus on operational excellence to drive new growth. His leadership across DCS served customers with specialized equipment, qualified drivers and unmatched market density. Beginning his career with the company as a manager trainee, Keefauver has over 29 years of experience at J.B. Hunt.

The new positions will be effective December 1. All three executives will report to President and CEO Shelley Simpson.

"As we prepare for an eventual turn in the freight market, we have focused our entire organization on being operationally excellent and scaling our long-term investments to enable our company to generate appropriate returns that deliver shareholder value. The strength and resiliency of our organization is supported by our mode neutral approach and the consistency, tenure and expertise of our people and executive leadership team, and these moves address the potential we see across the company as we move into 2025," said Simpson.

This press release may contain forward-looking statements, which are based on information currently available. Actual results may differ materially from those currently anticipated due to a number of factors, including, but not limited to, those discussed in Item 1A of our Annual Report filed on Form 10-K for the year ended December 31, 2023. We assume no obligation to update any forward-looking statement to the extent we become aware that it will not be achieved for any reason. This press release and additional information will be available to interested parties on our website, www.jbhunt.com.

About J.B. Hunt

J.B. Hunt's vision is to create the most efficient transportation network in North America. The company's industry-leading solutions and mode-neutral approach generate value for customers by eliminating waste, reducing costs and enhancing supply chain visibility. Powered by one of the largest company-owned fleets in the country and third-party capacity through its J.B. Hunt 360°® digital freight marketplace, J.B. Hunt can meet the unique shipping needs of any business, from first mile to final delivery, and every shipment in-between. Through disciplined investments in its people, technology and capacity, J.B. Hunt is delivering exceptional value and service that enable long-term growth for the company and its stakeholders.

J.B. Hunt Transport Services Inc. is a Fortune 500 company, an S&P 500 company and a component of the Dow Jones Transportation Average. Its stock trades on NASDAQ under the ticker symbol JBHT. J.B. Hunt Transport Inc. is a wholly owned subsidiary of JBHT. The company's services include intermodal, dedicated, refrigerated, truckload, less-than-truckload, flatbed, single source, last mile, transload and more. For more information, visit www.jbhunt.com.

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J.B. Hunt Announces Executive Leadership Changes