Russell Gerdin was the Chairman and CEO of Heartland Express, a transportation company, from 1980 until his retirement in 2011. Born in 1941, Gerdin never went for the typical big bonuses or stock options. He kept his salary steady at...
Russell Gerdin was the Chairman and CEO of Heartland Express, a transportation company, from 1980 until his retirement in 2011. Born in 1941, Gerdin never went for the typical big bonuses or stock options. He kept his salary steady at $300,000 since 1986, even requesting that it not be raised. Instead, he focused on owning a substantial amount of the company's stock, around 33.9%, which tied his wealth directly to the performance of Heartland. This approach highlighted his confidence in the company and its future. There’s a family connection too; when Gerdin stepped down due to health reasons in 2011, his son, Michael Gerdin, took over as CEO. His legacy includes not just building Heartland Express but also establishing a culture that prioritized stockholder interests over quick payoffs, earning respect in the industry.