MIAMI, Dec. 20 /PRNewswire-FirstCall/ -- Ryder System, Inc. (NYSE: R), a
global leader in transportation and supply chain management solutions,
announced today that L. Patrick Hassey, Chairman, President and Chief
Executive Officer of Allegheny Technologies Incorporated (NYSE: ATI), has been
elected to its Board of Directors. Allegheny Technologies is one of the
largest and most diversified specialty metals producers in the world. The
appointment of Mr. Hassey brings the number of directors on Ryder's board to
11, all of whom are independent other than Ryder Chairman and Chief Executive
Officer Greg Swienton.
"Pat is a proven leader with more than 35 years of broad international
experience in manufacturing, engineered products, marketing and sales," said
Mr. Swienton. "His career also includes extensive work in key sectors such as
aerospace, automotive, industrial machinery and distribution. We believe
Pat's industry knowledge combined with his experience as chief executive of a
leading industrial supplier of specialty materials will enhance Ryder's
ability to deliver high value to customers and shareholders."
Mr. Hassey became President and Chief Executive Officer of Allegheny
Technologies in October 2003 and was elected Chairman in May 2004. Prior to
joining Allegheny Technologies, Mr. Hassey had served as an outside management
consultant to Allegheny Technologies' executive management. Earlier, he
served as Executive Vice President and a member of the corporate executive
committee at Alcoa, Inc. until the time of his early retirement in February
2003.
Commenting on his appointment, Mr. Hassey said, "Ryder is a well
established brand that has intensified its focus over the past few years to
deliver consistently higher earnings. I look forward to working with fellow
members of the board and Ryder's management to build on these foundations and
expand its long-term growth potential."
Mr. Hassey is a graduate of California State University at Long Beach and
attended the University of Southern California MBA Program.
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 (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, 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, unexpected reserves or losses due to the effects of
recent hurricanes on our operations and the economy, increases in fuel prices,
availability of qualified drivers, our ability to manage our cost structure
and changes in government regulations, including regulations regarding vehicle
emissions. 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.
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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
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