MIAMI, Feb. 22 /PRNewswire-FirstCall/ -- Ryder System, Inc. (NYSE: R), a
global leader in transportation and supply chain management solutions, today
announced it has selected Mark T. Jamieson as Executive Vice President and
Chief Financial Officer (CFO). Mr. Jamieson will succeed Tracy Leinbach as
CFO effective March 1, 2006. Ms. Leinbach previously announced her plans to
retire from the Company following the completion of the 2005 fiscal year.
"We are pleased to welcome Mark to Ryder's management team," said Ryder
Chairman and Chief Executive Officer Greg Swienton. "His proven leadership
and track record of optimizing the financial and operational performance of
quality organizations should allow him to contribute broadly to our objective
of long-term sustainable profitable growth. We also believe Mark's extensive
experience within the industrial sector has uniquely prepared him for a
smooth, efficient transition into this important role within our
organization."
Mr. Jamieson will lead the Finance and Audit, Strategic Sourcing,
Information Technology, Investor Relations and Public Affairs functions and
continue Ryder's strong reputation for effective governance, transparency and
financial discipline. He comes to Ryder from Sammons Enterprises, Inc., a
$2.5 billion, privately held conglomerate where he served as Executive Vice
President and Chief Financial Officer.
Before joining Sammons Enterprises, Inc., Mr. Jamieson spent nearly
30 years in positions of increasing financial leadership within General
Electric. From 1998 through 2004 he served as CFO of GE Industrial Systems
(GEIS), a $5.7 billion global business with 150 manufacturing operations in 25
countries and an employee base of 35,000. He provided strategic, operational
and financial direction as a member of the division's leadership team and was
instrumental in identifying key growth and operational initiatives to meet the
company's established long-term financial goals. Prior to leading the finance
organization of GEIS, Mr. Jamieson was CFO of GE Electrical Distribution &
Control (EDC), a $2.4 billion leading global provider of electrical products
to commercial, industrial and residential markets.
In 1993, Mr. Jamieson served as CFO of GE Lighting's European business
where he provided strategic direction in transitioning the business to
profitability and helped to restructure its manufacturing and distribution
operations. In addition to his financial leadership roles, Mr. Jamieson also
briefly served as CEO of Electric Insurance Company, a stand-alone unit of GE,
before he joined Sammons Enterprises, Inc.
About Ryder
Ryder is a Fortune 500 company providing leading-edge transportation,
logistics and supply chain management solutions worldwide. Ryder's stock
(NYSE: R) is a component of the Dow Jones Transportation Average and the
Standard & Poor's 500 Index. For more information about Ryder System, Inc.,
visit http://www.ryder.com .
Note Regarding Forward-Looking Statements: Certain statements and
information included in this press release are "forward-looking statements"
under the Federal Private Securities Litigation Reform Act of 1995.
Accordingly, these forward-looking statements should be evaluated with
consideration given to the many risks and uncertainties inherent in our
business that could cause actual results and events to differ materially from
those in the forward-looking statements. Important factors that could cause
such differences include, among others, our ability to obtain adequate profit
margins for our services, our inability to maintain current pricing levels due
to customer acceptance or competition, customer retention levels, unexpected
volume declines, loss of key customers in the Supply Chain Solutions (SCS)
business segment, unexpected reserves or write-offs due to the deterioration
of the credit worthiness or bankruptcy of certain customers in our SCS
business segment, changes in financial, tax or regulatory requirements or
changes in customers' business environments that limit their ability to commit
to long-term vehicle leases, changes in market conditions affecting the
commercial rental market or the sale of used vehicles, labor strikes or work
stoppages affecting our or our customers' business operations, adequacy of
accounting estimates and accruals, changes in general economic conditions,
sudden changes in fuel prices, availability of qualified drivers, our ability
to manage our cost structure, changes in government regulations, including
regulations regarding vehicle emissions and risks described in our filings
with the Securities and Exchange Commission. The risks included here are not
exhaustive. New risks emerge from time to time and it is not possible for
management to predict all such risk factors or to assess the impact of such
risks on our business. Accordingly, we undertake no obligation to publicly
update or revise any forward-looking statements, whether as a result of new
information, future events, or otherwise.
SOURCE Ryder System, Inc.
 back to top
Related links:
http://www.ryder.com
CONTACT:
Lisa Brumfield, +1-305-500-3668, or
Lisa_Brumfield@Ryder.com, or Edward Rifenburg, +1-305-500-4161,
or Edward_Rifenburg@Ryder.com, both of Ryder
EDITORS' ADVISORY: Photo of Mr. Jamieson is available by request.
|
