- After 14 years in the position
- Praise and thanks for Roberts
- Shelley Simpson taking over
- Roberts will remain as executive chairman at J.B. Hunt
- Roberts made a lengthy statement and said 288 words
(exechange) — Lowell, Arkansas, February 29, 2024 — John Roberts, chief executive of J.B. Hunt, leaves his position. As announced by J.B. Hunt Transport Services Inc. in a news release and in a regulatory filing published on Thursday, February 29, 2024, John N. Roberts leaves his post as chief executive officer at the trucking giant, after 14 years in the role, effective July 1, 2024.
John Roberts’s duties as CEO will be taken over by Shelley Simpson, currently president at J.B. Hunt Transport Services Inc.
The company also announced that Kirk Thompson, current executive chairman of the Board, along with Wayne Garrison, will both retire from the company’s Board of Directors and will take newly formed Board advisory roles as Honorary Founding Directors.
Roberts will remain as executive chairman at J.B. Hunt
J.B. Hunt stated: “John N. Roberts, III, outgoing chief executive officer, will assume the role of executive chairman of the Board upon Kirk Thompson’s retirement from the Board.”
“To support future growth and shareholder confidence”
The planned management change is explained as follows. J.B. Hunt stated: “The changes are part of the company’s succession planning and Board development to support future growth and shareholder confidence.”
“Retire”
J.B. Hunt said: “Mr. Roberts will retire as Chief Executive Officer effective July 1, 2024, and will continue serving as executive Chairman of the Board following his retirement as Chief Executive Officer.”
Share price increase since February 2019
The announcement follows an increase in J.B. Hunt Transport Services Inc.’s share price of 90% since February 2019.
In the position of CEO since 2010
John Roberts became CEO of the Company in 2010.
Roberts is the Company’s Chief Executive Officer, a role he has held since 2010.
A graduate of the University of Arkansas, he served as Chief Executive Officer and President of the Company from 2010 to 2022 and as Executive Vice President and President of Dedicated Contract Services from 1997 to December 31, 2010.
Joining the Company in 1989, he began his career as a Management Trainee and subsequently served as an EDI Services Coordinator, Regional Marketing Manager for the Intermodal and Truckload business units, Business Development Executive for DCS, and Vice President of Marketing Strategy for the Company.
288 words by John Roberts
In the release announcing his departure as CEO of J.B. Hunt Transport Services Inc., John Roberts received praise and thanks.
In announcing his departure, John Roberts made a lengthy statement and said 288 words.
“Drive appropriate returns and long-term growth”
John Roberts stated: “Shelley challenges us to be excellent and innovative and always in pursuit of customer value. She will continue to remain focused on disciplined investments to drive appropriate returns and long-term growth for the benefit of our people, customers and shareholders. These steps help to ensure the culture and innovative growth mindset that has been so vital to the success of our company remains strong and intact to support the vision and the values of the Company for the foreseeable future… As demonstrated by their long-standing dedication and service to the company, both Wayne and Kirk have substantial experience and institutional knowledge with respect to the company and its business, operations, governance and market position that cannot be replaced. They have led the company as directors and executive officers through periods of exponential growth and success and remain highly regarded and trusted advisors in the eyes of management, the Board and the company’s largest shareholder and founder, Johnelle Hunt. We are thankful for their willingness to assume these newly created roles and look forward to continuing to gain from their experiences of starting and running the company with the Hunt family for now over 50 years. We are fortunate to retain their extensive experience and insights… These Board and management changes reflect our commitment to developing strong leadership, listening to our stakeholders, and enhancing our corporate governance, particularly regarding Board independence, while retaining the significant value our long-standing leaders provide. Through their decades of influence, Kirk and Wayne have instilled a culture of growth, leadership, respect and success in the company’s management and employees during its over 60-year history. Retaining their guidance and influence supports the continuity and stability of the Hunt family’s founding ownership interest in the company.”
The above text is an excerpt from the exechange report 10.2024 ($), publication date March 4, 2024.