MONDOVI — Marten Transport, Ltd. announced that it elected Robert L. Demorest and G. Larry Owens as independent directors of the company’s board of directors. Mr. Demorest’s and Mr. Owens’ initial terms will begin at the next scheduled meeting of the board of directors, which is expected to be in December of 2007.
Chairman, President and Chief Executive Officer Randolph L. Marten said, “I’m extremely pleased to announce the addition of these two individuals to the board of directors. Robert’s and Larry’s complementary skills and experiences will add to the quality and diversity of a board of which I am already proud to be the Chairman.
Additionally, as independent board members, they will bring new insights and ideas to Marten. The addition of these two directors brings the total number of directors to seven, five of which are independent. This addition of independent directors demonstrates Marten’s commitment to strong corporate governance policies.
“Robert has over thirty years of experience in the design, manufacture, and marketing of specialized scientific instrumentation. He has achieved success in his business endeavors by employing rigorous standards, which we expect he will also apply to his board service at Marten. Marten is a company that thrives on efficiency and focus and I believe Robert will complement and reinforce these existing strengths.
“Larry’s understanding of the trucking industry, gained through hands-on experience in many important roles at a publicly traded trucking company, in combination with his broad financial experience gained as the president of a regional bank, will enable him to provide Marten with valuable and insightful counsel. I have known Larry for many years and have observed how effective he has been as a business leader. I look forward to Marten benefiting from his contributions.”
Mr. Demorest has served as the President, Chief Executive Officer and Chairman of the Board of MOCON, Inc., a publicly traded company that provides consulting services and designs, manufactures, markets, and services measurement and analytical instruments primarily for food, beverage, and pharmaceutical companies world-wide, since April 2000. Prior to that time, Mr. Demorest had been President of MOCON, Inc. for more than five years.
Mr. Owens has served as the Chief Executive Officer, President and Secretary of Smithway Motor Xpress Corp., a truckload carrier that provides nationwide transportation of diversified freight, concentrating primarily on the flatbed segment of the truckload market, since March 5, 2004, and has served as the Chairman of the Board of Smithway Motor Xpress Corp. since April 2, 2004. Mr. Owens had served prior to that time as the Executive Vice President and Chief Financial Officer of Smithway Motor Xpress Corp. from January 1993 and Chief Administrative Officer from August 2001. Mr. Owens also served as the Chief Operating Officer of Smithway Motor Xpress Corp. from May 1998 to August 2001. Prior to joining Smithway Motor Xpress Corp., Mr. Owens spent twenty-five years in the banking industry, most recently from 1982 through 1992 as President of Boatmen’s Bancshares’ regional banks in Spencer and Fort Dodge, Iowa.
Marten Transport, with headquarters in Mondovi, Wis., is one of the leading temperature-sensitive truckload carriers in the United States. Marten specializes in transporting food and other consumer packaged goods that require a temperature-sensitive or insulated environment. Marten offers nationwide service, concentrating on expedited movements for high-volume customers. Marten’s common stock is traded on the Nasdaq Global Select Market under the symbol MRTN.