Saddle Creek Logistics Services, one of the country's largest family-owned third-party logistics providers (3PLs), said today that Mark Cabrera, currently the company's CFO, will become its CEO within the next 2 years, replacing current CEO Cliff Otto, who will retire at that time.

Cabrera has been named to the new post of chief operating officer, which he will assume on July 1, Lakeland, Fla.-based Saddle Creek said. Once COO, Cabrera will familiarize himself with all facets of Saddle Creek's operations before taking over the CEO role, the company said.

Otto and Cabrera both joined Saddle Creek in 2001. Cabrera serves as the company's chief strategy officer besides overseeing all finance and human resource functions. Cabrera will relinquish the CFO job on July1, and the company's finance group will report to Otto. Otto has been Saddle Creek's CEO since 2013, and his retirement has been rumored for a while.

The announcement continues an ongoing transition at the top of Saddle Creek's organizational chart. Last May, Scott Thornton was named chairman, succeeding founder David Lyons, who died in July 2015. Thornton is married to Lyons' daughter, Jennifer.

Saddle Creek is an asset-based 3PL, operating its own fleet as well as a large warehouse network.