Eddie Stobart has suspended trading of its shares and announced that chief executive Alex Laffey will stand down with immediate effect, as the firm looks into an accounting error.
The transport firm, known for its green lorries, revealed a £2m discrepancy in its accounts last month.
Sebastien Desreumaux, currently head of iForce and Contract Logistics at Eddie Stobart, will take over from Mr Laffey.
Mr Desreumaux joined the company in July 2018.
In a statement, the firm said it was “applying a more prudent approach to revenue recognition” and that it also intended to review the group’s current dividend policy.