Transportation Equipment Network (TEN), a trailer leasing company owned by I Squared Capital, announced that Nathan Smith, TEN’s Chief Operating Officer, has been appointed interim Chief Executive Officer, effective immediately.

Smith joined TEN in December 2024, bringing decades of leadership experience in the transportation and logistics industry. Prior to TEN, he spent much of his career at JB Hunt, where he held senior leadership roles including Senior Vice President of Equipment and Properties and Senior Vice President of Intermodal Operations.

In recent months, TEN has continued to strengthen its market leadership with the launch of TEN Ready, a disaster recovery initiative designed to deliver trailers in times of crisis; the upcoming introduction of an industry leading, patent pending customer solution at TEN Cool, and its geographic expansion into the Houston and Pacific Northwest markets through collaboration programs with industry recognized ‘agent’ partners. These strategic initiatives underscore TEN’s commitment to innovation, customer service, and long-term growth.

Tom Donohue, TEN Chairman, said: "Nathan is a highly respected leader with a deep understanding of our business and industry. His operational expertise and steady leadership make him the right person to guide TEN through this transition and ensure we continue on our growth trajectory. The Board would like to thank Scott Nelson (listed as company president as of June 23, 2025) for his service and leadership, and we are grateful for his cooperation during this transition."

Smith said, "Our top priority is serving our customers with the reliability and excellence they expect from TEN. I am deeply committed to ensuring that our customers and our people remain well-supported as we continue to strengthen operations and empower our teams. It is an honor to step into the role of interim CEO at such an important time for TEN, and I look forward to building on the company’s strong foundation and position as an industry leader."