Allen West, a longtime executive with PAM Transport Inc. (Nasdaq: PTSI) of Tontitown, resigned from the company and will be replaced on an interim basis by Lance Stewart.
West joined the company in 1997 and became CFO in 2013. According to a proxy statement filed by PAM in March 2022, West earned total compensation of $832,273 in fiscal 2021, including a base salary of $389,934.
West, 55, will remain with the company as an advisor until June 8. Neither West nor PAM gave any reasons for West’s resignation.
Stewart is the company’s vice president of operations, a position he took in 2020. Stewart joined the company in 1989 and has served in various executive positions.
PAM said Stewart will be paid $12,000 monthly in addition to his base salary while serving as interim CFO. Stewart is not a named executive officer in the company’s proxies and his base salary was not disclosed.