Soon-to-be former P.A.M. Transport (PAMT) CEO and President Joe Vitiritto will serve as a consultant following his departure on June 27, according to a recent SEC filing.
After nearly five years of leading PAMT (CCJ Top 250, No. 58), formerly P.A.M. Transportation Services, Vitiritto announced his plan to resign last month, citing family reasons. Prior to PAMT, Vitiritto had a 17-year tenure at Knight-Swift Transportation (No. 4).
Under the terms of the consulting role, Vitiritto will be available to advise senior management and consult with the company as requested for a year, earning $8,000 weekly, the filing noted.
PAMT waived Vitiritto’s requirement to provide six months’ notice for his voluntary resignation but he remains bound by non-compete and non-solicitation provisions.
Matthew Moroun, chairman of the company’s Board of Directors, will serve as interim president and CEO upon Vitiritto's departure until a permanent hire is made. He previously served as the interim president and CEO of the company from May 2020 to August 2020.
According to its earnings report, PAMT reported a net loss of $8.1 million for the first quarter of the year. Total revenues decreased by 14.9% to $155.3 million. Its truckload segment operating ratio was at 110.9%, a significant increase from the 104.2% for the same quarter in 2024.
Last year, PAMT reported losses in both the second and fourth quarters, with the fourth quarter loss exceeding $31 million. Vitiritto did not issue a statement in the company’s most recent earnings release, his second consecutive absence from the quarterly commentary, despite having regularly provided statements in the past.
