Landstar System, Inc. announced that James B. Gattoni will resign from his position as President and a member of the Company?s board of directors, effective February 2, 2024, to retire after a 28 year career with Landstar. The Company entered into a letter agreement with Mr. Gattoni, dated December 4, 2023, pursuant to which, from his resignation until his anticipated retirement date of July 1, 2024, Mr. Gattoni will serve as a special advisor to the new Chief Executive Officer and aid in a smooth transition. In this new role, Mr. Gattoni?s annual base salary will remain the same, but he will not be eligible for a 2024 bonus under the Company?s Incentive Compensation Plan.

The foregoing description is not intended to be complete and is qualified in its entirety by the letter agreement between the Company and Mr. Gattoni. In connection with Mr. Gattoni?s retirement, Landstar announced that Frank A. Lonegro would join the Company as President and a member of the Company?s board of directors, effective February 2, 2024. Mr. Lonegro, age 55, is joining Landstar from Beacon Roofing Supply, Inc., where he currently serves as Executive Vice President and Chief Financial Officer.

Beacon Roofing Supply is a Fortune 500 North American building products distribution company. Prior to working at Beacon, Mr. Lonegro worked for almost 20 years at CSX Corporation, a Fortune 250 rail transportation company. During his 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 technology and operational roles earlier in his tenure, including President of CSX Technology, Vice President of Service Design, and Vice President of Mechanical.

Mr. Lonegro has broad financial, operational and technology leadership experience at large, publicly-traded organizations.