By Paul Ziobro
Marten Transport restored the base salaries of its top executive officers, after cutting them last year to offset weakness in the freight market.
The refrigerated trucking company said Monday that its compensation committee last week approved restating the base salaries, effective April 7, for executives, including Executive Chairman Randolph Marten, Chief Executive Timothy Kohl and Chief Financial Officer James Hinnendael.
Hinnendael also received a bump in pay, to a new annual salary of $450,000 from $412,000 previously, according to a filing with the Securities and Exchange Commission.
In September, Marten Transport cut the base salaries of its named executive officers by between 5% and 7.5%. The company said at the time that the cuts are among several steps being taken to mitigate the duration and depth of the recession in freight market on its operations.
Write to Paul Ziobro at paul.ziobro@wsj.com
(END) Dow Jones Newswires
May 12, 2025 16:41 ET (20:41 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。