PAM Transport CEO Joe Vitiritto Resigns

PAM Transport CEO Joe Vitiritto (Photo provided by PAM Transport)

Joe Vitiritto, the CEO for PAMT Corp. of Tontitown (Nasdaq: PAMT), will step down for “family reasons” in June, the company said.

Viritto made the announcement at the company’s shareholders meeting May 8 in Warren, Michigan, PAMT said in a filing with the U.S. Securities & Exchange Commission. No other information was shared in the filing.

Board Chairman Matthew T. Moroun will serve as interim CEO until a full-time replacement is hired. Moroun is the majority owner of PAMT, controlling more than 73% of the company’s shares. 

Vitiritto has served as CEO of PAMT, the holding company for PAM Transport Inc., since August 2020 when he replaced Dan Cushman. Moroun served as interim CEO of the company for several months in 2020 between Cushman’s retirement and Vitiritto’s hiring.

Vitiritto earned total compensation of $778,160 in fiscal 2024. He made more than $1 million in total compensation in 2023 and 2022.

PAMT reported an annual loss of $31.8 million in fiscal 2024 after a profit of $18.4 million in 2023. The trucking and logistics company had profits of $90.9 million in 2022 and $76.5 million in 2021.

PAMT reported revenue of $158.3 million in the first quarter of 2025, down from $182.6 million. Income was a loss of $8.1 million, down from a profit of $281,000.