PAMT Corp., the parent company of PAM Transport Inc. of Tontitown (NASDAQ: PAMT), on Monday announced that CFO Lance Stewart has been named president and CEO of the trucking firm.
He follows Joe Vitiritto, who resigned in June after nearly five years with the company. The company’s chairman, Matthew Moroun, held the role on an interim basis.
Stewart, 56, is a native of Tontitown who began his career with PAM in 1989. He was named vice president of finance, CFO, secretary and treasurer of the company in 2010, serving in that capacity until 2013.
After a brief period away from the company, Stewart returned as vice president of accounting in 2016. He was again named CFO in April 2023.
In a move corresponding to Stewart’s promotion, the company named Senior Vice President of Finance and Treasurer Daniel Kleine as principal financial and accounting officer. Kleine will hold that role until a permanent CFO is named, PAM said in a news release. The company is also currently conducting a national search for an additional executive to serve in an operational capacity.
Kleine, 36, was previously the company’s vice president of tax, a role he held since 2023. Prior to joining PAM, Kleine held roles including tax director at poultry company George’s Inc. of Springdale. He was as senior tax accountant at Frost PLLC in Little Rock from August 2013 to June 2017.
PAM in July reported a second-quarter loss of $9.1 million, wider than the loss of $2.9 million it posted in the same quarter a year ago.
Shares of the company rose slightly to $12.25 on Tuesday morning. Over the past 12 months, shares were down more than 27%.
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