Frank A. Lonegro Appointed CEO Of Landstar System

JACKSONVILLE, Fla., Dec. 04, 2023 (GLOBE NEWSWIRE) — Landstar System, Inc. (Nasdaq: LSTR), a technology-enabled, asset-light provider of integrated transportation management solutions delivering safe, specialized transportation services, announced today that its Board of Directors has named Frank A. Lonegro as President and Chief Executive Officer, effective February 2, 2024. James B. Gattoni, who currently serves as President and CEO, will continue to serve in that role through the date of the Company’s 2023 fourth quarter earnings release conference call, currently scheduled for February 1, 2024, following which he will be transitioning to the role of Special Advisor to the CEO before his anticipated retirement in July 2024. Mr. Lonegro will also be appointed to the Board of Directors of Landstar System, Inc. as of his commencement as CEO, succeeding Mr. Gattoni who will be stepping down from the Board as of February 2, 2024.

Mr. Lonegro is joining Landstar from Beacon Building Products (Nasdaq: BECN), where he currently serves as Executive Vice President and Chief Financial Officer. Beacon is a Fortune 500 building products distribution company serving customers throughout the U.S. and Canada. Prior to working at Beacon, Mr. Lonegro worked for almost 20 years at CSX Corporation, a Fortune 250 rail transportation company headquartered in Jacksonville, Florida. During his long tenure at CSX, Mr. Lonegro served in a number of capacities, including Executive Vice President and Chief Financial Officer from 2015 to 2019, as well as key technology and operational roles earlier in his tenure, including President of CSX Technology, Vice President of Service Design, and Vice President of Mechanical.

“Frank’s broad financial, operational and technology leadership at large, publicly traded organizations make for an outstanding fit at Landstar,” said Chairman of the Board Diana Murphy. “The Board is delighted to welcome Frank and his impressive record of achievement to Landstar. On behalf of the independent members of the Board, I also want to express tremendous appreciation to Jim for his leadership of Landstar and partnership with all of us.”

“Landstar has greatly benefited from Jim’s many contributions over an almost 30-year career with the Company,” said David Bannister, Landstar’s longest-serving Board member and Chair of the Compensation Committee. “His passion for the independent business owners who make up the Landstar network has played an integral part in driving Landstar forward as a technology-driven industry leader. We wish Jim all the best in his retirement.”

“Frank is an experienced, solutions-oriented leader,” said Gattoni. “He understands the fast-paced freight transportation industry, the critical importance of a safety-first culture and our commitment to the long-term success of Landstar agents, BCOs and other third-party capacity providers to continue to drive our growth.”

“I am honored to follow in Jim’s footsteps and to further build on the Company’s tremendous legacy of success,” said Lonegro. “It is my privilege to guide Landstar into the future as we write the next chapters in Landstar’s impressive story.”

About Landstar:
Landstar System, Inc., a Fortune 500 company, is a technology-enabled, 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 owners 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.