Hub Group's controlling shareholders are shaking up the company's board as it continues to review its accounting practices and works to restate prior results.

The transportation and management-solutions company on Friday said shareholders representing a majority of the combined voting power of its stock acted by written consent to appoint four new members to its board and remove three others without cause. After the written consent, three other members also resigned from the board.

The controlling shareholders, which consist of members of the Yeager family and related trusts, also moved to adopt the company's second amended and restated bylaws.

The board shakeup comes as Hub Group works to restate prior financial results and file delayed reports.

In May, the company said its chief financial and chief operating officers vacated their roles following a review by its audit committee, and last month the company appointed its executive chairman David Yeager to return to the chairman and chief executive role, and also named a new finance chief.

The company said it expects to complete the restatement process in the fourth quarter.

Among the controlling shareholders' appointments to the board are Gregory Bunch, Thomas Fitzgerald, Thaddeus Malik and Thomas White.

The shareholders removed Michael Flannery, Peter McNitt and Gary Yablon from the board.

Following the written consent, Mary Boosalis, Jenell Ross and Martin Slark resigned from the board, effective Oct. 1.

Each new director will be in place until Hub Group's next annual meeting of shareholders. The company said its board plans to appoint a new lead independent director and will also reconstitute its standing committees, and plans to maintain a majority-independent board.