Old Dominion vs Toyota: Founders, CEOs and History
Old Dominion was founded in 1934 by Earl Congdon, Lillian Congdon and is led by Kevin M. "Marty" Freeman. Toyota was founded in 1937 by Kiichiro Toyoda, Sakichi Toyoda and is led by Kenta Kon.
Company facts
Old Dominion
- Founded
- 1934
- Headquarters
- Thomasville, North Carolina, United States
- Current CEO
- Kevin M. "Marty" Freeman
- Employees
- 20,591
Toyota
- Founded
- 1937
- Headquarters
- Toyota City, Aichi, Japan
- Current CEO
- Kenta Kon
- Employees
- 375,235
Founders
Old Dominion
Earl Congdon
Earl Congdon and his wife Lillian founded Old Dominion in 1934 during the Great Depression, operating one truck between Richmond and Norfolk, Virginia.
Lillian Congdon
Lillian Congdon co-founded Old Dominion in 1934 alongside her husband Earl and handled much of the business side of the early company. She later led the company after Earl's death, keeping the business in family hands.
Toyota
Kiichiro Toyoda
Kiichiro Toyoda (1894-1952) founded the Toyota Motor Corporation in 1937, spinning it out of his father's successful textile machinery business.
Sakichi Toyoda
Sakichi Toyoda was not the founder of Toyota Motor Corporation but his inventions and philosophy created the foundation on which it was built. His loom patents generated the capital Kiichiro needed to experiment with automobiles.
CEOs and their tenures
Old Dominion
- Adam N. Satterfield2016–present
Executive Vice President and Chief Financial Officer
As CFO, he oversees the massive capital expenditure required to continuously expand the company's vital network of service centers, ensuring the company never runs out of capacity.
Source - David S. Congdon2018–present
Executive Chairman
As the grandson of the founders, he served as CEO during the company's absolute most explosive growth phase, cementing its reputation as the premier LTL carrier in North America.
Source - Greg Gantt2018–2023
President and Chief Executive Officer
Serving as CEO from 2018 to 2023, he guided the company through the severe supply chain shocks of the pandemic, maintaining absolutely unparalleled operational margins.
Source - Kevin M. "Marty" Freeman2023–present
President and Chief Executive Officer
Joined Old Dominion in 1992 and worked in customer relations, sales and operations; served as Executive Vice President and COO from 2018 before becoming CEO in July 2023.
Source - Gregory B. Plemmons2023–present
Executive Vice President and Chief Operating Officer
As COO, he ensures the incredibly complex terminal network operates with absolute military precision, maintaining the industry's lowest claims ratio for damaged freight.
Source
Toyota
- Akio Toyoda2009–2023
President and Chief Executive Officer (now Chairman)
Akio Toyoda took leadership during one of Toyota's hardest modern periods, including the global financial crisis and the unintended acceleration recall crisis.
Source - Koji Sato2023–2026
President and Chief Executive Officer (now Vice Chairman)
Koji Sato inherited a profitable but scrutinized Toyota.
Source - Kenta Kon2026–present
President and Chief Executive Officer
As CFO, he managed the immense capital allocation required for Toyota's massive $35 billion commitment to fully electrify its vehicle lineup by 2030.
Source
Timeline: Old Dominion and Toyota side by side
1934Old Dominion
Old Dominion Founded
Earl and Lillian Congdon started the freight carrier with one truck in Richmond, Virginia.
1937Toyota
Toyota Motor Corporation incorporated
Toyota Motor Corporation was incorporated after Kiichiro Toyoda expanded the Toyoda family business from automatic looms into automobile manufacturing.
1955Toyota
Toyopet Crown launched
The Toyopet Crown gave Toyota a postwar passenger-car platform and later became its first passenger car exported to the United States.
1966Toyota
Corolla launched
Toyota launched the Corolla, a compact car that became central to its mass-market export strategy.
1989Toyota
Lexus launches
Toyota launched Lexus with the LS 400, moving into premium vehicles with a quality-led strategy.
1991Old Dominion
Nasdaq Listing
Old Dominion went public on Nasdaq under the ticker ODFL.
1997Toyota
Prius launches in Japan
Toyota launched the Prius, turning hybrid technology into a mass-produced passenger vehicle.
2016Toyota
Acquired Daihatsu Motor Co., Ltd.
Toyota Motor acquired Daihatsu Motor Co., Ltd..
2018Old Dominion
Greg Gantt becomes CEO
Greg Gantt succeeded David S. Congdon as CEO; Congdon became Executive Chairman.
2021Toyota
Acquired Lyft Level 5
Toyota Motor acquired Lyft Level 5 for $550 million.
2021Toyota
Acquired CARMERA
Toyota Motor acquired CARMERA.
2023Old Dominion
Marty Freeman becomes CEO
Kevin M. "Marty" Freeman became President and CEO on July 1, 2023, after Gantt retired; Greg Plemmons became COO.
2023Old Dominion
Withdrew Yellow terminal bid
Old Dominion placed a $1.5 billion stalking-horse bid for Yellow's terminals, was topped by Estes, and later pulled out of the auction.
2025Old Dominion
$5.496B FY2025 Revenue
Old Dominion reported $5.496 billion of revenue and $1.024 billion of net income for FY2025.
2026Old Dominion
Q2 2026: 70.1% operating ratio
Revenue rose 10.4% to $1.554 billion and EPS rose 32.3% to $1.68, matching the company record.
2026Toyota
Kenta Kon becomes president and CEO
Kenta Kon became president and CEO on April 1, 2026, while Koji Sato moved to vice chairman and chief industry officer.
2026Toyota
FY2026 sales revenues reach ~$340B (JPY 50.685T)
Toyota reported FY2026 sales revenues of ~$340 billion (JPY 50,684.952 billion) and net income attributable to Toyota Motor Corporation of ~$25.8 billion (JPY 3,848.098 billion).
Acquisitions
Old Dominion
No verified acquisitions are listed.
Toyota
- Lyft Level 52021$550M
- CARMERA2021Undisclosed
- Renovo Motors2021Undisclosed
- Daihatsu Motor Co., Ltd.2016Undisclosed
- Toyota Auto Body2012Undisclosed
Questions about Old Dominion vs Toyota
Who is the CEO of Old Dominion Freight Line, Inc. and Toyota Motor Corporation?
Old Dominion Freight Line, Inc. is led by Kevin M. "Marty" Freeman and Toyota Motor Corporation is led by Kenta Kon. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Old Dominion Freight Line, Inc. founded vs Toyota Motor Corporation?
Old Dominion Freight Line, Inc. was founded in 1934 — 3 years before Toyota Motor Corporation, which was founded in 1937. Old Dominion Freight Line, Inc.'s longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Toyota Motor Corporation.
How many employees does Old Dominion Freight Line, Inc. have compared to Toyota Motor Corporation?
Old Dominion Freight Line, Inc. employs approximately 20,591 people, while Toyota Motor Corporation employs approximately 375,235. Toyota Motor Corporation has the larger workforce at 375,235 employees, compared to Old Dominion Freight Line, Inc.'s 20,591. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Old Dominion Freight Line, Inc. and Toyota Motor Corporation headquartered?
Old Dominion Freight Line, Inc. is headquartered in United States and Toyota Motor Corporation is headquartered in Japan. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded Old Dominion Freight Line, Inc. and Toyota Motor Corporation?
Old Dominion Freight Line, Inc. was founded by Earl Congdon, Lillian Congdon. Toyota Motor Corporation was founded by Kiichiro Toyoda, Sakichi Toyoda.
Which company has a longer operating history — Old Dominion Freight Line, Inc. or Toyota Motor Corporation?
Old Dominion Freight Line, Inc. has been operating for approximately 92 years, making it the more established of the two companies. Toyota Motor Corporation has been in operation for around 89 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Old Dominion vs Toyota overview