Frozen Food Express Industries Inc. on Wednesday, Feb. 23, announced that Stoney M. “Mit” Stubbs Jr. has retired as chief executive officer effective at the end of day Monday, Feb. 28, after 27 years as CEO and board chairman. “Mit” Stubbs will remain on the company’s board, continuing his role as chairman. He will be replaced as CEO by S. Russell Stubbs, who also will retain his position as president of the Dallas-based company. Russell Stubbs has been with the company since 1986, most recently serving as president since January 2010.
“FFE has been a part of my family for my entire life, and I have enjoyed every moment of my time here,” “Mit” Stubbs says. “There comes a time to pass on the reins, and I think that time has come. I like the management team we have assembled, and I know Russell will do a fine job in leading the company forward as the new CEO. I will continue to enjoy my service on the board and as an active member of the various trucking associations. I want to thank all that I’ve known and worked with for a great life as a trucker.”
“Mit” Stubbs began his professional career with Frozen Food Express Industries as a management trainee in 1960 after his graduation from Texas A&M and service in the U.S. Army. Over the next two decades, he earned increasing responsibility within the company, ultimately earning the role of president of the corporation in 1979. In 1984, he was elevated to the roles of chairman, president and CEO.
He oversaw the corporation during a period of dramatic growth, through acquisitions of carriers such as Lisa Motor Lines, Middleton Transportation and American Eagle Lines in the 1980s. By 1991, FFE was the nation’s largest publicly-owned nationwide full-service motor carrier of perishable commodities. From 1984 until 2005, the company grew from $64 million in annual revenue to more than a half billion dollars in 2005.
In addition to his work at FFE, “Mit” Stubbs has been a leader in the transportation industry. In 1995 he served as chairman of the Texas Motor Transportation Association and in 1996 he also served as chairman of the Truckload Carriers Association, both of which he serves today on the executive committee. He also continues to serve on the American Trucking Associations’ Executive Committee.
“Mit has been a true titan in temperature-controlled trucking,” Russell Stubbs says. “His leadership, wisdom and foresight have meant a lot to our company, the industry and me personally. I am excited at the opportunity I now have to continue the great tradition of this company and look forward to many successful years ahead.”