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Ryder CEO Swienton to retire; Sanchez named successor

By Palm Beach

MIAMI — Ryder System announced Monday that Chairman and CEO Gregory T. Swienton will retire at the company’s annual meeting on May 3, and that Chief Operating Officer Robert Sanchez will replace him. Sanchez will assume the CEO’s responsibility as of Jan. 1.

Ryder is a member of Palm Beach's South Florida Portfolio. Its stocks, which trades on the New York Stock Exchange, were down 76 cents to $48.86 early Monday afternoon.

Swienton, 63, has agreed to serve in an advisor to the company following his retirement.
Swienton joined Ryder in June 1999 as COO, and became chief executive officer in November 2000. He assumed the title of 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,” Swienton said. “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.”

Sanchez, 47, is a 19-year employee of Ryder who has served in senior executive leadership positions in operations, finance, and information technology. He has held a broad range of leadership positions for the corporation and each of its business segments.

Before joining Ryder in 1993, Sanchez worked as an engineer at both Florida Power and Light and Pratt & Whitney Aircraft. He earned his MBA from The Wharton School at the University of Pennsylvania with a concentration in finance.  Sanchez also earned a bachelor of science degree in electrical ngineering with a specialization in Computer Science from the University of Miami.

Ryder Director E. Follin Smith called Sanchez “ideally qualified” to lead the company.

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