Ryder System announced a leadership transition on Friday. CEO Robert Sanchez will retire at the close of the first quarter, handing the reins over to Chief Operating Officer John Diez. Following his retirement, Sanchez will transition to the role of executive chairman. “Robert has led the development and execution of Ryder’s balanced growth strategy to derisk the business, improve returns, and accelerate the growth of our supply chain and dedicated businesses that has transformed the company’s return profile,” said Michael Hilton, lead independent board director, in a news release. Sanchez has held several senior executive leadership positions in his more than 30 years at Ryder (NYSE: R). He was named CEO in January 2013 and became chairman of the board in May of the same year. Ryder’s annual revenue has doubled to $12.6 billion under Sanchez’s leadership, with net earnings increasing 133% to $489 million (full-year 2024 results). “I’ve had the privilege of working alongside the most talented and dedicated professionals in our industry to deliver for our employees, customers, and shareholders,” Sanchez said. “I’ve worked with John for over two decades and his deep understanding of our business, sound judgment and strategic mindset uniquely positions him to lead the company. I am confident that he is the right leader to drive Ryder’s continued growth.” As president and COO, Diez currently oversees operations of the company’s three business segments – Fleet Management Solutions, Supply Chain Solutions and Dedicated Transportation Solutions. He has been with Ryder since 2002, previously serving as…
