As part of the succession plan approved by Ryder’s Board of directors, effective January 1, 2013, Ryder’s president and chief operating officer, Robert E. Sanchez, will assume the Company’s chief executive role, serving as president and chief executive officer.

Mr. Swienton will then serve in the role of executive chairman until the Company’s annual meeting of shareholders, at which time; Mr. Sanchez will become chairman and chief executive officer.  As an added measure of continuity through the transition, Mr. Swienton has agreed to serve in an advisory capacity for a period of time following his retirement. 

Mr. Swienton joined Ryder in June 1999 as president and chief operating officer, a position he held until becoming president and chief executive officer in November 2000.  A member of Ryder’s board of directors since June 1999, Mr. Swienton was named its chairman in May 2002.  

‘Over the past 14 calendar years, I’ve had the good fortune to work with our Ryder team to truly make a positive difference for our shareholders, customers and the communities we serve.  The initiatives and changes we’ve made over time in all aspects of our business model and culture will serve as a solid foundation in the years ahead,’said Mr. Swienton.  

‘Our organization can take great pride in the consistent progress we’ve made, the results we’ve delivered, and the even brighter future we’ve created.  The very talented team that will remain in place under the trusted leadership of Robert Sanchez gives me great confidence that Ryder will continue to thrive and deliver on its commitments and potential well into the future,’ he added.

The Lead Independent Director of Ryder’s Board, E. Follin Smith, said, ‘We sincerely thank Greg Swienton for leading Ryder to an improved sustainable business model, significantly enhanced financial performance, and an organization-wide commitment to business integrity.  He has contributed to a strong, team-oriented form of leadership that emphasizes character, sound judgment, and obtaining superior results the right way.  With this foundation in place, Ryder is well positioned to achieve a smooth and effective transition of the chairman and chief executive officer role to Robert Sanchez, who is ideally qualified to lead the continued progress and profitable growth of Ryder’s global organization.’