P.A.M. Transportation Services CFO Allen West announced he’s resigning from his position after working with the company for decades.
The longtime executive notified the parent company of the carrier of the move on March 8, and he’ll provide advisory services through June 8.
He joined the company in 1997 as director of tax and was appointed in June 2013 to his current role, which includes the titles of VP of finance, secretary and treasurer, according to a securities filing.
Lance Stewart is serving as interim CFO and treasurer of the company while P.A.M. searches for a permanent finance chief. After starting with the company in 1989, Stewart has served in a series of roles with increasing responsibilities with the Arkansas-based TL carrier.
Other key financial leaders in the industry have made similar moves recently. Werner Enterprises CFO John Steele announced in August he’d end a career that spanned more than three decades with the carrier. ArcBest CFO David Cobb plans to retire this October after nearly two decades with the LTL provider.
In recent years, chief financial officers have had lower tenure than various other C-suite executives, according to a report by software company Datarails. Between 2016 and 2021, their average tenure was 3.5 years.
But chief financial executives promoted internally have stayed much longer, according to Russell Reynolds Associates.
