Shareholder Letter

Reaching new customers and markets is what we do.

Greg Swienton, Executive Chairman, and Robert Sanchez, President and CEO, discuss the significant market opportunities ahead for Ryder

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RECOGNITION / AWARDS

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GREG SWIENTON // Executive Chairman
ROBERT SANCHEZ // President and Chief Executive Officer

A remarkable journey. An extraordinary legacy.

When you’ve had a world-class business leader like Greg Swienton at the helm for the past 14 years, there’s no need for general platitudes to describe his tenure. The facts speak for themselves. Greg joined Ryder in 1999 as President and served as Chief Executive Officer from November 2000 through December 2012. He has served as a member of Ryder’s board of directors since June 1999, and as its Chairman since 2002. He led a sweeping transformation of Ryder during the decade of the 2000s, in which Ryder’s significantly enhanced business model generated a $3.7 billion turnaround in free cash flow1 (reversing ten-year cash flows from negative to positive). During Greg’s tenure as CEO, an investment in Ryder stock generated a return of 230% and included eight dividend increases. Greg and the Ryder team also completed 18 successful acquisitions.

In 2002, Greg became the first transportation industry executive to be awarded The Green Cross for Safety Medal, the National Safety Council’s highest honor, in recognition of his career-long commitment to workplace safety.
 

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GREG SWIENTON // Executive Chairman

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ROBERT SANCHEZ // President and Chief Executive Officer

Greg’s personal integrity and commitment to doing what’s best for the organization, speaking openly and honestly in both good times and bad, and valuing the contributions of all employees, will leave a positive and unifying imprint on the Ryder organization. His focus on developing employees and delivering the right results the right way will live on through Ryder’s Leadership Competency Model which emphasizes character, judgment, relationships and results. These are the standards for leading Ryder now and developing leaders for the future.

The entire Ryder organization extends our heartfelt gratitude and appreciation to Greg, whose impact will not be forgotten, and whose character will live on within Ryder.

Ideally suited to write Ryder’s next chapter.

During his 20 years with Ryder, customers, investors and employees have come to know Robert Sanchez for his wide-ranging contributions. As a long-standing member of Ryder’s Leadership Team, as President and Chief Operating Officer, President of Global Fleet Management Solutions, Chief Financial Officer, Chief Information Officer, and as a senior level executive in both FMS and SCS, Robert is particularly well-suited to lead the organization, build on our strong foundation, and help write the next chapter in Ryder’s history.

(1) Free cash flow represents a non-GAAP financial measure – for details of this measure and a reconciliation to the GAAP measure, net cash provided by operating activities, please refer to Item 6 – Selected Financial Data; and Item 7 – Management’s Discussion and Analysis of Financial Condition and Results of Operations under the “Financial Resources and Liquidity” discussion, which are contained in our 2012 Annual Report on Form 10-K. The Annual Report can be accessed by clicking here and is also available in the Investors area of our website at investors.ryder.com.