JACKSONVILLE, Fla., Oct. 1, 2014 /PRNewswire/ -- Landstar System, Inc. (NASDAQ: LSTR), a worldwide, asset-light provider of integrated transportation management solutions delivering safe, specialized transportation logistics services, announced today that its Board of Directors has named James B. Gattoni President and Chief Executive Officer, effective December 29, 2014. Henry H. Gerkens, who currently serves as Chairman of the Board and CEO, will continue to serve as Executive Chairman of the Board through the Company's Annual Shareholder Meeting scheduled for May, 2015, pursuant to his existing letter agreement with the Company.
"Since joining the Company in 1995, Jim quickly emerged as a key player on the management team," said Lead Independent Director, Diana Murphy. "His financial expertise and commitment to excellence in customer service will serve the Company and its shareholders well into the future. Jim's promotion is a testament to Landstar's on-going succession planning process and is well deserved. The Board is delighted he will succeed Henry."
"Landstar has greatly benefited from Henry's many contributions and leadership over the years," said David Bannister, Landstar's longest-serving Board member and Chair of the Compensation Committee. "He has played an integral part in solidifying Landstar's position as an industry leader since Landstar's inception in 1988. His passion for the Landstar business model is evident by the Company's growth and success under his tenure."
"Jim has proven time and time again that he is a solutions-oriented leader," said Gerkens. "He understands the Company's safety first culture and is well respected within the organization. His commitment to the long-term success of Landstar agents, BCOs and other third party capacity providers will continue to drive our success in servicing Landstar customers well into the future."
"I am honored to follow in Henry's footsteps and to further build on the Company's momentum," said Gattoni. "It is my privilege to guide Landstar into the future as we write the next chapters in Landstar's success story."