Trucking giant Knight-Swift Transportation Holdings, one of Arizona’s largest corporations, has a new CEO, with the Phoenix freight company promoting Adam Miller to the top job.
Miller, 43, the Phoenix company’s longtime chief financial officer, replaces David Jackson, who stepped down after nine years as CEO and 13 years as president. Miller also has been serving as the president of the company’s Swift Transportation unit.
Knight-Swift also promoted Andrew Hess, a senior vice president, to assume Miller’s role as CFO.
Miller, a certified public accountant who earned a bachelor’s degree in accounting at Arizona State University, has been with the company since 2002, serving in various positions including secretary and treasurer.
“Adam’s broad strategic, financial and operating experience during his 22-year career at Knight-Swift has him well-prepared and ready to lead as CEO,” said Kevin Knight, the company’s executive chairman, in a statement.
Miller’s responsibilities as CFO included oversight of the company’s capital structure and financial performance.
“This experience, combined with Adam’s humble, yet confident personality and inclusive leadership style, make him widely respected inside and outside of our organization,” Knight added.
In a statement, Miller vowed to focus on expanding the company’s operations, improving profit margins and generating higher cash flow and returns for shareholders.
Knight-Swift already ranks as one of Arizona’s most valuable corporations, with a stock-market capitalization or value of $9 billion. The company earned $217 million on $7.1 billion in revenue in 2023 and counted nearly 35,000 employees, including 25,000 drivers, at the end of the year. It ranked in the 62nd spot with nearly 2,900 statewide workers in last year’s Republic 100 special report on largest nongovernmental Arizona employers.
Knight-Swift’s net income last year slumped 72% compared with 2022’s total on slightly lower revenue.
Jackson, who has served nearly 24 years at Knight-Swift, in a a statement said it’s “time for a change and for the next generation to take the baton.” Jackson said he looks forward to a new chapter and continuing to make a difference in the community.
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