Pamt Corp., formerly Pam Transportation Services, announced on Monday that Chief Financial Officer Lance Stewart will become president and CEO effectively immediately. Stewart has also been appointed to the company’s board of directors.
The CEO position had been held on an interim basis by Pamt Chairman Matthew Moroun, following former CEO Joe Vitiritto’s departure in June for family reasons. Moroun will continue in his role as chairman.
Excluding a three-year stretch, Stewart has been with the company since 1989, most recently serving as vice president of finance, CFO and treasurer since April 2023.
Daniel Kleine will serve as the carrier’s principal financial and accounting officer effectively immediately until a permanent CFO is named. Kleine has been with the company since 2023, serving as senior vice president of finance at Pam Transport since June.
Pamt said it is also conducting a national search to find an operations leader.
The Tontitown, Arkansas-based company reported a third consecutive quarterly net loss a week ago, with its TL unit reporting a seventh straight operating loss (a 112.5% operating ratio).
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