MIAMI, Aug. 30 /PRNewswire-FirstCall/ -- Ryder System, Inc. (NYSE: R),
today announced that it is filing an SEC Form 8-K with notice of Executive
Vice President and Chief Financial Officer (CFO) Tracy A. Leinbach's intention
to retire from the company in early 2006 in order to pursue personal
endeavors. Ms. Leinbach will continue as CFO through the conclusion of the
work in closing the company's 2005 fiscal year, which ends December 31. Her
exact departure date has not been set, but it will most likely be in February
2006. Even though Ms. Leinbach will not retire for several months, SEC rules
require the company to immediately disclose her decision to retire.
Ms. Leinbach recently celebrated her 20-year anniversary with Ryder.
Prior to being appointed Chief Financial Officer in 2003, she led the
company's largest business segment, Fleet Management Solutions, and also
headed Ryder's operations in Europe.
"Tracy has been an outstanding leader of our company, and has contributed
greatly to our success," said Ryder Chairman and Chief Executive Officer Greg
Swienton. "Although we are sorry to see her retire, we wish Tracy the best in
her personal endeavors and appreciate her commitment to ensuring a smooth
transition of her important duties." The company anticipates identifying and
announcing Ms. Leinbach's successor in advance of her retirement in 2006.
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, unexpected
volume declines, loss of key customers in the Supply Chain Solutions segment,
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, increased competition from vehicle manufacturers and large service
providers, higher borrowing costs and possible decreases in available funding
sources caused by adverse changes in debt ratings, 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, our ability to create operating
synergies in connection with our acquisitions, our ability to manage our cost
structure 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 risks 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.
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Related links:
http://www.ryder.com
CONTACT:
Media, David Bruce, +1-305-500-4999, or
Investor Relations, Bob Brunn, +1-305-500-4053, both of Ryder
Systems
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