Landstar Hires Fred Pensotti as New Chief Financial Officer

Rhea-AI Summary

Landstar System, Inc. (NASDAQ:LSTR) has appointed Fred Pensotti as Chief Financial Officer, effective immediately. Pensotti brings over 20 years of experience in financial leadership roles across various industries, including his previous position as CFO of One Call, a healthcare-related services company with $1.5 billion in revenue. Landstar's CEO, Jim Gattoni, highlighted Pensotti's proven success in enhancing operational performance and driving shareholder value. Pensotti aims to work closely with stakeholders to build on the company's growth and innovation in the freight transportation sector.

Positive

• Fred Pensotti's extensive experience in financial leadership roles could enhance Landstar's operational and financial performance.
• Pensotti's track record of driving shareholder value may positively impact investor confidence.

Negative

• The transition may cause uncertainty among stakeholders regarding continuity in financial strategies.

JACKSONVILLE, Fla., May 24, 2021 (GLOBE NEWSWIRE) -- Landstar System, Inc. (NASDAQ:LSTR), a worldwide, asset-light provider of integrated transportation management solutions delivering safe, specialized transportation logistics services, today announced that Fred Pensotti has joined the company as Chief Financial Officer, effective today.

Pensotti has more than 20 years of strategic business and financial leadership at large publicly-held and private-equity owned corporations in a variety of industries. Most recently, he served as Chief Financial Officer of One Call, a $1.5 billion healthcare-related services company. Prior to joining One Call, Pensotti held CFO roles at e-commerce logistics and omni-channel solutions provider Radial, Inc. (formerly eBay Enterprise) and Interline Brands, a leading wholesale distributor of maintenance, repair and operations products.

“Fred’s proven success in improving operational and financial performance, financial planning and analysis, and driving shareholder value will be an asset for Landstar,” said Landstar President and CEO Jim Gattoni. “We look forward to his fresh perspective and collaborative approach to leadership as a member of the company’s executive team.”

In his role at Landstar, Pensotti will be responsible for safeguarding the company’s assets and managing the entire financial and administrative operation of the multi-billion dollar enterprise.

“I am excited to join the Landstar team and look forward to working with our employees, customers, agents, capacity providers and shareholders, as we continue to build upon Landstar’s outstanding record of growth and innovation in the freight transportation industry,” stated Pensotti.

About Landstar
Landstar System, Inc. is a worldwide asset-light provider of integrated transportation management solutions delivering safe, specialized transportation services to a broad range of customers utilizing a network of agents, third-party capacity providers and employees. Landstar transportation services companies are certified to ISO 9001:2015 quality management system standards and RC14001:2015 environmental, health, safety and security management system standards. Landstar System, Inc. is headquartered in Jacksonville, Florida. Its common stock trades on The NASDAQ Stock Market^® under the symbol LSTR.

FAQ

Who is the new Chief Financial Officer of Landstar System?

Fred Pensotti has been appointed as the Chief Financial Officer of Landstar System, effective May 24, 2021.

What previous experience does Fred Pensotti have?

Fred Pensotti has over 20 years of experience in financial leadership, previously serving as CFO at One Call and other companies.

What are Fred Pensotti's main responsibilities at Landstar?

Pensotti will manage the company's financial and administrative operations while safeguarding Landstar's assets.

How might Fred Pensotti's appointment impact Landstar's growth?

His experience in improving operational performance and driving shareholder value could lead to enhanced growth strategies.