Ryder CEO Robert Sanchez to retire, COO John Diez named successor

5 days ago 8

Ryder System announced a enactment modulation connected Friday. CEO Robert Sanchez volition discontinue astatine the adjacent of the archetypal quarter, handing the reins implicit to Chief Operating Officer John Diez. Following his retirement, Sanchez volition modulation to the relation of enforcement chairman.

“Robert has led the improvement and execution of Ryder’s balanced maturation strategy to derisk the business, amended returns, and accelerate the maturation of our proviso concatenation and dedicated businesses that has transformed the company’s instrumentality profile,” said Michael Hilton, pb autarkic committee director, successful a quality release.

Sanchez has held respective elder enforcement enactment positions successful his much than 30 years astatine Ryder (NYSE: R). He was named CEO successful January 2013 and became president of the committee successful May of the aforesaid year.

Ryder’s yearly gross has doubled to $12.6 cardinal nether Sanchez’s leadership, with nett net expanding 133% to $489 cardinal (full-year 2024 results).

“I’ve had the privilege of moving alongside the astir talented and dedicated professionals successful our manufacture to present for our employees, customers, and shareholders,” Sanchez said. “I’ve worked with John for implicit 2 decades and his heavy knowing of our business, dependable judgement and strategical mindset uniquely positions him to pb the company. I americium assured that helium is the close person to thrust Ryder’s continued growth.”

As president and COO, Diez presently oversees operations of the company’s 3 concern segments – Fleet Management Solutions, Supply Chain Solutions and Dedicated Transportation Solutions. He has been with Ryder since 2002, antecedently serving arsenic the company’s main fiscal officer, among different elder enactment positions.

Diez has besides been elected to the company’s committee of directors.

“We are arrogant to sanction John to beryllium Ryder’s adjacent CEO arsenic portion of a well-planned succession,” Hilton said. “John has an exceptional concern way record, understands our customers’ needs, and knows the institution precise good arsenic a effect of his more-than-20-year tenure with Ryder.”

“Thanks to Robert’s beardown leadership, we person tremendous opportunities to proceed increasing arsenic the complexity of proviso chains intensify and the request for our port-to-door services increases,” Diez said. “I look guardant to continuing to enactment intimately with Robert, the board, and our full squad to leverage the powerfulness of Ryder.”

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