LSTR Landstar System Inc

Landstar System, Inc. (NASDAQ:LSTR) (“Landstar” or the “Company”), a technology-enabled, asset-light provider of integrated transportation management solutions delivering safe, specialized transportation services, announced today two changes to its executive leadership team, effective December 1, 2024:

• Joe Beacom has been named President of Company subsidiary, Landstar System Holdings, Inc., and each of its agent-based transportation services companies.
• Matt Miller has been named Vice President and Chief Safety and Operations Officer of the Company, succeeding Mr. Beacom in that role.

“With three decades of exemplary leadership and broad experience at Landstar, Joe is uniquely positioned to work across our executive leadership team to help accelerate our distinctive business model and drive our strategic growth initiatives forward in cooperation with our agents, owner-operators and truck brokerage carriers,” said Frank Lonegro, President and CEO of Landstar. Mr. Beacom has agreed to serve in this new capacity through the end of 2025, following which he will transition to the role of Special Advisor to the CEO before his anticipated retirement in the first quarter of 2026.

With his promotion to the Company’s executive leadership team, Mr. Miller will have enterprise responsibility for all operational matters relating to Landstar’s capacity network of truck owner-operators and third-party truck brokerage carriers. Mr. Miller’s expanded role continues to include responsibility for safety, compliance, trailer maintenance and utilization and operations solutions at Landstar. During his 15-year career at the Company, Mr. Miller has held positions of increasing responsibility in safety, operations, finance and risk management.

“I’m excited to welcome Matt to the Company’s executive leadership team. Matt’s wide-ranging experiences at Landstar and more broadly, his engaging leadership style and passion for safety position us well for the future with him at the helm of our operations,” said Lonegro. “I look forward to working directly with Joe and Matt in their new positions, as we continue to align the company for future growth and customer service excellence.”

About Landstar:Landstar System, Inc. 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 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.

Forward Looking Statements Disclaimer:The following is a “safe harbor” statement under the Private Securities Litigation Reform Act of 1995. Statements contained in this press release that are not based on historical facts are “forward-looking statements”. This press release contains forward-looking statements, such as statements which relate to Landstar’s business objectives, plans, strategies and expectations. Terms such as “anticipates,” “believes,” “estimates,” “intention,” “expects,” “plans,” “predicts,” “may,” “should,” “could,” “will,” the negative thereof and similar expressions are intended to identify forward-looking statements. Such statements are by nature subject to uncertainties and risks, including but not limited to: an increase in the frequency or severity of accidents or other claims; unfavorable development of existing accident claims; dependence on third party insurance companies; dependence on independent commission sales agents; dependence on third party capacity providers; the impact of the Russian conflict with Ukraine on the operations of certain independent commission sales agents, including the Company’s largest such agent by revenue in the 2023 fiscal year; decreased demand for transportation services; U.S. trade relationships; substantial industry competition; disruptions or failures in the Company’s computer systems; cyber and other information security incidents; dependence on key vendors; potential changes in taxes; status of independent contractors; regulatory and legislative changes; regulations focused on diesel emissions and other air quality matters; regulations requiring the purchase and use of zero-emissions and other air quality matters; intellectual property; and other operational, financial or legal risks or uncertainties detailed in Landstar’s Form 10-K for the 2023 fiscal year, described in Item 1A Risk Factors, and in other SEC filings from time to time. These risks and uncertainties could cause actual results or events to differ materially from historical results or those anticipated. Investors should not place undue reliance on such forward-looking statements, and the Company undertakes no obligation to publicly update or revise any forward-looking statements.

Media Contact:
Donia Crime
Vice President, Corporate Communications
(904) 398-9400 / dcrime@landstar.com