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.
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