J.B. Hunt partnering
for logistics startups
J.B. Hunt Transport Services Inc. and UP.Labs on Wednesday announced the creation of a Logistics Venture Lab designed to fuel innovation in logistics and freight.
Shelley Simpson, J.B. Hunt president and chief executive officer, said the company has been on an innovation journey since its founding in 1961.
"Our collaboration with UP.Labs will continue this journey as we look for new ways to disrupt, adapt and accelerate across the transportation industry," she said.
Six freight-focused startups will debut in the next three years as part of the new lab, with the aim to solve core strategic challenges in the industry.
The first startups will aim to begin in 2025, and are inspired by opportunities to drive efficiency and solve common problems faced by freight and logistics providers, according to a news release.
John Kuolt, founder and chief executive officer for UP.Labs, said he is thrilled to be collaborating with the Lowell-based company.
UP.Labs is a venture lab, is part of the UP.Partners system, and has collaborated with Porsche AG and Alaskan Airlines.
-- Dylan Sherman
Murphy Oil appoints
Hambly as next CEO
Eric Hambly, Murphy Oil Corp. president and chief operating officer was appointed by Murphy Oil's board of directors to succeed Roger Jenkins as the company's president and chief executive officer, effective January 1, the company said Wednesday in a news release.
Hambly will also join the board of directors.
The news release said Jenkins will retire from the board at the end of the year and "remain with Murphy in a non-executive role as an advisor until his retirement on December 31, 2025."
Hambly has more than 26 years of experience in the oil industry and began working for Murphy Oil in 2006, the company said. He was appointed executive vice president of operations in 2020 and took over as president and COO in February 2024.
"It is my pleasure, on behalf of our Board, to congratulate Eric on being named Murphy's next President and CEO and a member of the Board," said Claiborne Deming, Murphy's board chairman. "Eric's exceptional leadership and deep understanding of our business and the industry make him an outstanding choice to lead Murphy."
Murphy Oil moved its headquarters from El Dorado to its offices in Houston in 2020.
-- Arkansas Democrat-Gazette
State index closes at
875.55, down 20.10
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Wednesday at 875.55, down 20.10 points.
"Equities edged higher led by the energy sector as crude oil prices rose on continued Mideast geopolitical tensions," said Leon Lants, managing director at Stephens Inc.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.