Freight broker Landstar System announced Wednesday that CFO Fred Pensotti will be departing the company “to pursue another professional opportunity.” A filing with the Securities and Exchange Commission said the change is effective July 1.
Current VP and Corporate Controller James Todd will step into the CFO role on July 1. Todd will also serve as principal financial officer and principal accounting officer. He joined Landstar in 2013 as director and assistant controller. Todd has been in his current role since 2015.
In addition to a salary increase, Todd will be eligible for the company’s executive compensation plan.
Pensotti is entitled to separation benefits per his original employment agreement.
