John Roberts, president and CEO of Lowell-based carrier J.B. Hunt Transport Services Inc., received a 5.6% salary increase in 2019, and his total compensation declined 3.8% to $6.58 million in 2019, according to the company’s proxy statement.
J.B. Hunt filed Thursday (March 12) the statement with the U.S. Securities and Exchange Commission. It shows the company will host its annual shareholders meeting at 10 a.m. April 23 at the company’s headquarters at 615 J.B. Hunt Corporate Drive in Lowell.
Roberts’ salary was $892,542 in 2019, up from $845,298 in 2018, according to the filing. Roberts received a 2.8% base salary increase for 2020, and his new salary is $915,000.
David Mee, former chief financial officer, received a 4.9% raise in 2019, and his total compensation fell 8% to $2.53 million. Mee’s salary was $523,224, up from $498,618 in 2018. He received a 2.9% base salary increase for 2020, and his new salary is $540,000. Mee retired March 1, and he will remain with the company as an employee and adviser until April 1. John Kuhlow succeeded Mee as chief financial officer.
Shelley Simpson, executive vice president, chief commercial officer and president of highway services, received a 5.1% raise in 2019, and her total compensation decreased 7.7% to $2.54 million. Her salary was $521,784 in 2019, up from $496,600 in 2018. She received a 2.9% base salary increase for 2020, and her new salary is $540,000.
Nicholas Hobbs, executive vice president and president of dedicated contract services, received a 7.2% raise in 2019, and his total compensation fell 7.4% to $2.53 million. His salary was $520,601 in 2019, up from $485,505 in 2018. He received a 2.9% base salary increase for 2020, and his new salary is $525,000.
Terrence Matthews, executive vice president and president of intermodal, received a 4.7% raise in 2019, and his total compensation rose 9.4% to $3.01 million in 2019. His salary was $523,991 in 2019, up from $500,630 in 2018. Matthews, 60, recently announced he would retire April 1. Darren Field, 48, executive vice president of intermodal, will assume Matthews’ role on that date.
Shareholders as of Feb. 18 will vote April 23 on whether to elect members of the company’s board of directors. The board of directors comprises Douglas Duncan, Francesca Edwardson, Wayne Garrison, Sharilyn Gasaway, Gary George, Bryan Hunt, Coleman Peterson, Roberts, James Robo and chairman Kirk Thompson. All except for Peterson are candidates for reelection.
Peterson will retire from the board at the end of the shareholders meeting April 23, and Gale King has been nominated to fill the vacancy. King, 63, is executive vice president and chief administrative officer for Nationwide Mutual Insurance Co. She serves as a member of the board of directors for AutoZone, board trustee and chair for the University of Florida Foundation, board trustee for the Executive Leadership Council and co-chair for the membership committee. She is an inaugural member of the Columbus Women’s Commission. She graduated from the University of Florida with a bachelor’s degree in journalism and master’s degree in public administration.
Also in the shareholders meeting, some of the proposals that stockholders will vote on include requiring the company to complete a semiannual report showing the company’s political contributions and a report on the company’s plans with regard to climate change and to align itself with the Paris Agreement’s goal of maintaining global temperature increases below 2 degrees Celsius. J.B. Hunt recommended voting against the previous shareholder proposals.
J.B. Hunt’s operating income increased by 7.8% to $734 million in 2019, from $681 million in 2018. In 2010, the income was $348 million. The income has risen 111% since 2010. Revenue rose 6.4% to $9.16 billion in 2019, from $8.61 billion. In 2010, revenue was $3.79 billion. Revenue has risen 141.7% since 2010.
The following owned at least 5% of J.B. Hunt’s stock as of Dec. 31:
- Co-founder and philanthropist Johnelle Hunt of Rogers, 17.3%
- Rowe Price Associates Inc. of Baltimore, 15.9%
- Vanguard Group Inc. of Malvern, Pa., 9.6%
- BlackRock Inc. of New York, 5.7%
Shares of J.B. Hunt (NASDAQ: JBHT) closed Thursday at $83.39, down $4.93, or 5.58%. In the past 52 weeks, the stock has ranged between $122.29 and $81.35.