Landstar System (LSTR) Appoints non-Exec Chairman; Raises Buyback to 3M Common Shares

Landstar System (NASDAQ: LSTR) announced that effective May 19th, Diana M. Murphy was named its non-executive Chairman of the Board following Landstar's 2015 Annual Meeting of Stockholders. Ms. Murphy joined the Landstar Board of Directors in 1998 and has served as Independent Lead Director of the Board since May 2012. During her tenure on the Board, Ms. Murphy has also served on each Board committee, including service as chairman of the compensation, nominating and corporate governance and strategic planning committees. Ms. Murphy also serves on the Board of Directors of CTS Corporation, a NYSE-listed leading designer and manufacturer of electronic components to OEMs in various industries, and is a Vice President of the United States Golf Association and a member of its executive committee.

The Company also announced that Anthony J. Orlando has joined its Board of Directors. Mr. Orlando, 55, most recently served as President and Chief Executive Officer for Covanta Holding Corporation, a developer and operator of renewable energy facilities focused on transforming waste into energy, from October, 2004 to March, 2015. Mr. Orlando held various other executive positions during his 28 year tenure with Covanta Holding Corporation and with Foster Wheeler Corporation prior to that.

In addition, Landstar announced that its Board of Directors has increased to 3,000,000 the number of shares of its common stock that the Company is authorized to purchase under its stock purchase program.

"Landstar is very pleased to announce the appointment of Diana Murphy as non-executive Chairman of the Board and the addition of Tony Orlando to our Board of Directors," said Landstar President and Chief Executive Officer Jim Gattoni. "Diana has been a valuable member of Landstar's Board for over 17 years, most recently serving as Independent Lead Director. Her appointment as Chairman is a natural progression from her role as Independent Lead Director and I look forward to working with Diana to ensure Landstar's continued growth and success. I also look forward to working with our newest Board member, Tony Orlando. Tony's operations experience and strategic background in his various roles at Covanta will contribute greatly to Landstar's future."

Continued Gattoni, "2015 year-to-date we have purchased 1,307,154 shares of Landstar's common stock at an aggregate cost of approximately $84.6 million. We continue to return value to our stockholders through our share purchase programs and plan to be opportunistic in the market going forward."

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