Werner Enterprises’ Chief Financial Officer John Steele will retire, ending a 33-year tenure with the carrier, the company announced Wednesday.
Steele, who held the CFO position for the last 25 years, will remain with Werner during the search for his replacement, according to the logistics and transportation company.
“Werner is extremely well-positioned for the next phase of our growth and success, guided by a clear strategy, outstanding leadership and a superior team,” Steele said in a news release.
Steele joined Werner as its controller in 1989 before becoming corporate secretary in 1992, and then CFO in 1996. CFOs promoted internally typically have 13 years with an organization, according to Russell Reynolds Associates.
As CFO, Steele oversaw the financial stewardship of the carrier as it grew to become one of the largest TL carriers in the U.S., earning $2.7 billion in operating revenue last year.
Derek Leathers, Werner’s CEO, president and chairman, said he’s grateful for Steele’s contributions to the company. “John has been a true partner in enabling strong financial performance.”