LANDSTAR SYSTEM INC (LSTR)
Sector: Industrials
Sector: Industrials
LANDSTAR SYSTEM INC - Executive Compensation
President and Chief Executive Officer
Executive Compensation
Frank A. Lonegro serves as President and Chief Executive Officer of Landstar System, Inc., a leading asset-light provider of integrated transportation management solutions. With over 25 years of dedicated service to the company, Lonegro joined Landstar in 1997 as a sales representative in the Chicago area. His early career was marked by rapid advancement through key operational and leadership roles, including positions as an operations manager, general manager of Landstar Ranger, Inc., and vice president of sales and operations for Landstar Business Capacity Solutions. His deep expertise in transportation logistics and customer-focused strategies propelled him into executive leadership. In 2015, Lonegro was appointed Executive Vice President and Chief Financial Officer, where he played a pivotal role in driving Landstar's financial performance, overseeing treasury, accounting, tax, and investor relations functions. Under his stewardship, the company achieved consistent revenue growth, expanded its network of independent agents and capacity providers, and navigated market challenges with resilience. Notable achievements include strengthening Landstar's balance sheet, enhancing technology investments for supply chain efficiency, and maintaining a commitment to its unique agent-based model that has sustained industry-leading margins. Lonegro ascended to President and CEO on January 1, 2023, succeeding Jim Handley, and now leads the company's strategic vision, operations, and growth initiatives. Reporting to the Board of Directors, he emphasizes innovation, safety, and customer service to position Landstar for continued success in the evolving logistics landscape. A respected industry leader, Lonegro holds a Bachelor of Science in Finance from DePaul University and remains actively involved in transportation associations, advocating for excellence in third-party logistics.