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Stock impact report

Former Forward Air CEO Tom Schmitt joins Nikola [Yahoo! Finance]

Forward Air Corporation (FWRD) 
Last forward air corporation earnings: 4/30 04:27 pm Check Earnings Report
US:NASDAQ Investor Relations: forwardair.gcs-web.com/investor-overview
Company Research Source: Yahoo! Finance
Schmitt's February departure from Forward Air came shortly after the company closed on an ill-conceived merger with Omni Logistics. Schmitt engineered the transaction, which pitted Forward as both capacity provider and competitor to some of its freight forwarding customers. The acquisition, which shareholders alleged subverted their consent , endured months of scrutiny from investors and analysts. Facing backlash on multiple fronts, Forward even tried to exit the deal to no avail. From the time the deal was announced in August of 2023 to a mid-May low, shares of the expedited trucking company fell nearly 90%. At Nikola ( NASDAQ: NKLA ), which makes hydrogen-powered fuel cell trucks, Schmitt will be tasked with scaling the company's business by overseeing “sales, commercial operations, dealerships, service, customer success, and marketing functions.” “Fortifying our commercial team is crucial to our success as we focus on our customers' experience and expanding the zero-emissio Show less Read more
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