JACKSONVILLE, Fla., March 18, 2024 (GLOBE NEWSWIRE) -- Landstar System, Inc. (NASDAQ:LSTR), a technology-enabled, asset-light provider of integrated transportation management solutions, today announced that two Landstar veterans have been promoted to lead Landstar's sales organization as executive officers of the Company. Effective today, Matt Dannegger has been appointed Chief Field Sales Officer, and Jim Applegate has been appointed Chief Corporate Sales, Strategy and Specialized Freight Officer.
"Together, Matt and Jim will lead the sales team as we align the organization for future growth and success. They are a great blend of complementary capabilities and I'm excited to have them leading our sales efforts going forward. Their collaborative approach to driving growth opens a new chapter of opportunity in Landstar's successful history," said Frank Lonegro, President and CEO of Landstar.
In his role as Chief Field Sales Officer, Mr. Dannegger will be responsible for the recruiting and growth of Landstar's independent sales agents. His focus will be to support the more than 1,000 independent agents in their business planning, sales and marketing efforts, cross-selling the full spectrum of Landstar services, and implementation of new tools and technologies to help unlock sales productivity. Mr. Dannegger has been with Landstar for more than 15 years serving in various field sales leadership roles of increasing responsibility, most recently as Senior Executive Vice President in charge of all agent field sales.
As Chief Corporate Sales, Strategy and Specialized Freight Officer, Mr. Applegate will be responsible for Landstar's corporate sales efforts, strategic growth initiatives, specialized freight offerings, and business development. Since joining Landstar in 2009, he has served as a vice president in various sales roles including business development, business solutions and corporate sales. Most recently, Mr. Applegate served as Executive Vice President of Business Intelligence and Strategy.
Lonegro continued, "The freight transportation industry has become increasingly complex, as have the needs of Landstar's independent agents and customers. The unique sales experience and expertise of Matt and Jim are a competitive advantage for Landstar, and their partnership with our operations team will differentiate Landstar in the dynamic freight marketplace."
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.
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: 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; 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; 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; 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 / [email protected]
