John Roberts, CEO of J.B. Hunt Transport Services Inc. of Lowell, will earn a base salary of $1 million in fiscal year 2023, the company said in a filing with the U.S. Securities & Exchange Commission on Tuesday.
Roberts’ new salary represents a raise from the $980,000 he was scheduled to receive in 2022. J.B. Hunt is expected to file its 2022 proxy statement in March, which will show an itemized breakdown of total compensation of each of the company’s named executive officers.
The publicly traded company (Nasdaq: JBHT) listed its NEOs’ 2022 base salaries in its proxy statement filed in March 2022.
Shelley Simpson, who was promoted to president this past summer, received the largest raise for 2023. She will receive $800,000 in base salary, up from $625,000.
COO Nick Hobbs will see his base salary increase from $625,000 to $675,000. Darren Field, president of the company’s intermodal division, will receive $575,000 in 2023, up from $525,000.
CFO John Kuhlow will receive $525,000 in 2023, up from $475,000. Chairman of the Board Kirk Thompson will receive $446,250 in 2023; his 2022 salary was not listed in the March 2022 proxy, but his base salary was $392,692 in 2021.
J.B. Hunt posted lower profit in the fourth quarter on softening demand in its Intermodal and Integrated Capacity Solutions segments. But for the full year of 2022, net income increased 27.4% to $969.4 million.