MIAMI, July 14 /PRNewswire-FirstCall/ -- Ryder System, Inc. (NYSE: R), a
global leader in transportation and supply chain management solutions,
announced today that E. Follin Smith, Executive Vice President, Chief
Financial Officer and Chief Administrative Officer of Constellation Energy
(NYSE: CEG), has been elected to its Board of Directors. Constellation Energy
is a Fortune 200 company and the nation's largest competitive supplier of
power to wholesale, commercial and industrial customers. The appointment of
Ms. Smith brings the number of directors on Ryder's board to 10, all of whom
are independent other than Greg Swienton, Ryder's Chairman and Chief Executive
Officer.
"Follin is a proven leader who has positively impacted the management and
performance of several highly respected companies," remarked Greg Swienton.
"Her current organization, Constellation Energy, is a well-respected energy
company recognized for its commitment to values Ryder shares in areas such as
financial disclosure and process improvement. We expect her experience as
both chief financial officer and chief administrative officer will further
enhance Ryder's ability to deliver high value to customers and shareholders.
We are very pleased she is joining us."
In her role as Executive Vice President, Chief Financial Officer and Chief
Administrative Officer, Ms. Smith is responsible for human resources, legal,
risk management, finance, audit, investor relations, information technology,
real estate and business process improvement programs. During her tenure at
Constellation Energy, the company has undergone a significant transformation
that included the restructuring of its information technology, finance and
human resources organizations, the implementation of new risk management,
financial and human resources systems, as well as upgrade improvements to the
existing infrastructure. The revitalized Constellation Energy was named the
Most Admired Energy Company in America by Fortune magazine in March 2005 and
ranked as the best performing company in its sector by BusinessWeek in April
2005. Under her leadership, Constellation Energy has been widely recognized
for superior financial disclosure and consistent financial performance.
"Ryder has a strong brand and is a recognized industry leader in
transportation and supply chain solutions," said Ms. Smith. "I look forward
to working with this distinguished board and Ryder's management to accelerate
profitable growth and deliver on this Company's outstanding long-term
potential."
From 1998 to 2001, Ms. Smith served as first Vice President and Treasurer,
then Senior Vice President and Chief Financial Officer of Armstrong World
Industries, the global leader in hard-surface flooring and ceilings
headquartered in Lancaster, Pennsylvania. She began her career with the
General Motors Treasurer's Office. There she gained experience in financing,
financial analysis, mergers and acquisitions and investor relations. She went
on to hold positions of increasing responsibility including: Treasurer of
General Motors of Canada Limited; Vice President, Finance of GMAC; and
Assistant Treasurer for the Corporation. In 1997, after completing a project
for General Motors President's Council which led to the spin-off of Delphi,
she became CFO of Delphi Chassis Systems.
Ms. Smith holds a bachelor of arts degree from Davidson College and a
master's degree in business administration from the University of Virginia's
Darden School, where she was a Shermet Scholar.
Ms. Smith also serves on the Board of Trustees and is Vice Chair of the
Audit Committee of the University of Virginia's Darden School. She is on the
Board of Visitors of Davidson College and a member of the Board of Directors
of the Baltimore Museum of Art.
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 presentation 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, the
possibility that changes in customers' business environments will 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, higher
borrowing costs and possible decreases in available funding sources caused by
adverse changes in debt ratings, resolution of the tax audits described in our
filings with the SEC and the amount and timing of any payments required to be
made by the Company in connection therewith, changes in accounting
assumptions, adequacy of accounting accruals, changes in general economic
conditions, availability of heavy- and medium-duty vehicles, increases in fuel
prices, availability of qualified drivers, the Company's ability to create
operating synergies in connection with its acquisitions of Ruan and General,
and changes in government regulations, including regulations regarding vehicle
emissions, drivers' hours of service and security regulations issued by the
Department of Homeland Security. 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 the
Company's business. Accordingly, the Company undertakes 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.
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Related links:
http://www.ryder.com
CONTACT:
Lisa Brumfield, +1-305-500-3668, or
Lisa_Brumfield@Ryder.com, or David Bruce, +1-305-500-4999, or
David_Bruce@Ryder.com, both of Ryder Systems
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