As first reported Monday in a Counselor Breaking News Alert, Jim Hagan is returning to the position of president and CEO of Top 40 supplier Sweda (asi/90305). He will run the firm’s day-to-day operations effective immediately.

Since 2015, Hagan had been serving as Sweda’s chairman. Previously, Hagan was Sweda’s CEO for eight years, beginning in 2007. Kenneth (KB) Marshall, who replaced Hagan as CEO in 2015, is no longer with the firm.

“I am excited to get back to work on moving the organization to the next level of innovation, capabilities and customer experience,” Hagan said in a statement. According to a Sweda spokesperson, the leadership change took place yesterday. The company would not comment on the reason for the move, but did confirm that no other management changes were forthcoming.

Sweda ranks as the 19th-largest firm on Counselor’s Top 40 list of suppliers after the company reported 2015 North American ad specialty sales of $89.8 million, a 2% increase over the previous year.