A must-read overview of Landstar System (Part 11 of 14)
Management team
Landstar System (LSTR) enjoys a focused, strong management team. Landstar’s top management includes people who joined the company in its early days and share its mission and values.
Henry Gerkens
The CEO until his December 2014 retirement, Henry Gerkens has been with the Landstar System since its inception in 1988. He held a number of roles during his tenure with the firm, including serving as COO. Under Gerkens’s leadership, the company generated record profit margins and returns on capital. He set internal targets for revenues and incomes, and he linked executive bonuses to these targets, which improved the overall efficiency of the employees. He will serve as the executive chairman of the board until May 2015.
Jim Gattoni
Landstar System’s new CEO is Jim Gattoni, who joined Landstar in 1995 and became the company’s CFO in early 2007. Gattoni has served at various senior level roles during his tenure at the company. He is also well versed with the company’s unique operating model, which includes its use of owner-operators and independent sales agents. This operating model has been an integral part of the firm’s successful execution as a top-tier highway broker.
Kevin Stout
Kevin Stout is Jim Gattoni’s replacement as CFO. Previously vice president of finance and corporate controller, Stout has been a part of the company since 1997.
LSTR’s competitors include Knight Transportation (KNX), Old Dominion Freight Line (ODFL), and Saia (SAIA). These companies are part of the First Trust Mid Cap Growth AlphaDEX Fund (FNY).
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