Truckload and intermodal services giant J.B. Hunt Transport Services announced late Thursday that CEO Kirk Thompson would be stepping down Dec. 31 from the job he has held for 23 years.
Thompson, who will become chairman of J.B. Hunt on Jan.1, will be succeeded as CEO on that date by John N. Roberts III, a 21-year Hunt executive and currently head of the company's dedicated contract services division.
During his tenure, Thompson led the Lowell, Ark.-based giant through its transition from truckload carrier to intermodal services company with strong relationships with the nation's railroads. He also led a major push into dedicated truckload services, the unit his successor now heads.
In its third-quarter results released in mid-October, Hunt reported that its intermodal and dedicated units generated $791 million of the $986 million in total revenue in the quarter.
Analysts said the move had been telegraphed for some time and that the transition should occur with no disruptions.