June 18, 2001 Jacksonville, FL - Landstar System, Inc. (NASDAQ: LSTR), a safety-first transportation and information services Company, announced today that Landstar Executive Vice President and Chief Financial Officer Henry Gerkens has been named Landstar President and Chief Financial Officer. Jeff Crowe will continue to serve as Chairman of the Board and Chief Executive Officer. The move is part of the Company's ongoing efforts to consolidate and streamline its operation. In his new position, Gerkens will be responsible for daily operations of the entire Landstar system of companies, while Crowe will continue to strategically position and enhance the Company's visibility in the global marketplace.
"These are invigorating times," said Landstar Chairman and CEO Jeff Crowe. "The next three to five years will present significant opportunities for those bold enough to take advantage of a fast-changing marketplace. I look forward to participating with high visibility in capturing those opportunities. Landstar has always been a pioneer at embracing the innovative and we continue to do just that. Together Henry and I are working to make the Company more nimble to meet the demands of tomorrow's marketplace. Together we will continue to lead Landstar on its own distinctive road to success."
Gerkens began his career at Landstar in 1988 as Vice President and CFO. In addition to being responsible for the Company's financial and administrative functions, he currently oversees operations of the Carrier Group - Landstar Gemini, Landstar Inway, Landstar Ligon and Landstar Ranger. As Landstar President he will also be responsible for the Company's Multimodal Group - Landstar Express America and Landstar Logistics.
"I'm honored to lead this exceptional Company and excited by the opportunities ahead," said Landstar's new President and CFO Henry Gerkens. "In concert with our small business partners, we will continue to demonstrate the strength and agility of our variable-cost business model. We will continue delivering excellence in safe, reliable transportation services, and we will continue our quest in delivering outstanding returns to our shareholders."
Landstar also announced today that Landstar Ranger President Gary Hartter has been named President of its Carrier Group. "Moving the Carrier Group under common leadership is another step towards eliminating redundancy within the group and standardizing and consolidating shared functions throughout its operations," said Gerkens. " I look forward to working with Gary as we continue the consolidation of mirror functions within the Landstar companies, raising the bar on our level of excellence in customer service."
Landstar System, Inc. is headquartered in Jacksonville, Florida. Landstar's carrier group, comprised of Landstar Gemini, Inc., Landstar Inway, Inc., Landstar Ligon, Inc. and Landstar Ranger, Inc., delivers excellence in complete over-the-road transportation services. Landstar's multimodal group, comprised of Landstar Express America, Inc. and Landstar Logistics, Inc., delivers excellence in expedited, contract logistics and intermodal transportation services. All Landstar operating companies are certified to ISO 9002 quality management system standards. Landstar System, Inc.'s common stock trades on The NASDAQ Stock Market® under the symbol LSTR.