Knight-Swift (KNX) Appoints a New CEO as Incumbent Steps Down
Knight-Swift Transportation KNX announced the appointment of a new chief executive officer (CEO) and a chief financial officer (CFO). The changes in the managerial positions became necessary following the decision of the company’s long-serving CEO, David Jackson, to step down. Jackson also resigned as a member of the company’s board.
Jackson has been succeeded by Adam Miller, who was serving as the trucking company’s chief financial officer since 2017. Andrew Hess, who was previously serving as the senior vice president of M&A, moved into the CFO position, vacated due to Miller’s elevation to the top spot.
Jackson was associated with the company for nearly 24 years. Out of that, nine years were spent as Knight-Swift’s CEO. His successor, Miller, too is hugely experienced, having joined the company in 2002.
Expressing gratitude, Jackson said, "After nearly 24 years at Knight-Swift, it is time for a change and for the next generation to take the baton. Adam and Andrew are ready, the timing is right, the company is well positioned, and they have my full support. I look forward to my next chapter and to continuing to make a difference in the community." Knight-Swift will be hoping that Miller proves to as successful as his predecessor in the top job and guides the company to greater heights.
Zacks Rank & Key Picks
Knight-Swift currently carries a Zacks Rank #3 (Hold).
Investors interested in the Zacks Transportation sector may consider Copa Holdings CPA and American Airlines (AAL), each carrying a Zacks Rank #2 (Buy), at present.
Copa Holdings CPA is thriving amid increased air-travel demand, propelled by strategic initiatives such as fleet modernization and a focus on the cargo segment. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for CPA’s 2024 earnings has been revised 5.14% upward over the past 60 days. CPA has an impressive earnings surprise history, beating the Zacks Consensus Estimate in each of the past four quarters, the average beat being 18.02%.
American Airlines AAL is experiencing positive momentum in air-travel demand, particularly on the domestic front. The airline's notable efforts to reduce debt are commendable, targeting a $15 billion reduction by the end of 2025.
The Zacks Consensus Estimate for AAL’s 2024 earnings has been revised 34.2% upward over the last 60 days. AAL has a stellar earnings surprise history, beating the Zacks Consensus Estimate in each of the past four quarters, the average beat being 119%.
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