Posted 7/13/2009 01:12 pm
Updated 1 year ago
Daniel H. Cushman on Monday succeeded Robert Weaver as president of P.A.M. Transportation Services Inc. of Tontitown, the publicly traded trucking company announced Monday.
Weaver was a co-founder of the company in 1980 and rejoined the company as president, CEO and director in 1990.
"Mr. Cushman brings with him many years of successful experience in all facets of the transportation industry. Mr. Cushman brings a wealth of knowledge from holding prestigious positions at companies such as Roadway Express, Triple Crown Services, Werner Enterprises and most recently CRST," P.A.M. said in a news release.
The company also thanked Weaver for his "service, leadership and success in a highly competitive industry."
"As Mr. Weaver's contract concludes this month and his term as President ends, he has agreed to consult with PTSI and assist in an orderly transition as PTSI pursues its strategic growth plan. The result for PTSI is a win-win situation for our company and our customers."
The annual proxy statement P.A.M. filed with the Securities & Exchange Commission in April said Weaver was under contract from July 10, 2006, to July 10, 2009. The company had an option to extend the agreement.
P.A.M. reported a loss of $3.3 million in the first quarter of 2009 after losing $18.8 million in 2008.