Ryder System, Inc. - R STOCK NEWS

Ryder System has appointed Charles M. “Chuck” Swoboda to its board of directors, effective December 12, 2022. Swoboda's notable leadership experience includes his tenure as CEO of Cree, Inc. (now Wolfspeed, Inc.), where he grew revenues from $177 million to over $1.6 billion. His expertise in innovation and financial management is expected to enhance Ryder's strategic vision. The board size will increase to twelve to accommodate this appointment, aiming to leverage Swoboda's skills in governance and audit committees.

Ryder System, Inc. (NYSE: R) announces the retirement of Bob Brunn, senior vice president of investor relations, effective December 31, 2022. Mr. Brunn, who has been with Ryder for 35 years, has led the investor relations function for the past 18 years. Calene Candela, a 30-year veteran of the company, will succeed him as vice president of investor relations starting January 1, 2023. Candela has held various financial roles and is poised to continue Ryder’s commitment to transparency in financial communications.

Ryder System, Inc. (NYSE: R) has launched a new drop-and-hook trailer service to enhance its freight brokerage business. This service utilizes COOP by Ryder, a peer-to-peer truck and trailer-sharing platform, providing customers access to over 6,000 trailers across the U.S. The service aims to address the current capacity shortage, offering shippers increased flexibility and efficiency while allowing vehicle owners to generate additional revenue. The platform has already shown success, with APL Cargo earning significant revenue from trailer rentals.

Ryder System, Inc. (NYSE: R) has been awarded the Miami Inno Fire Award by The South Florida Business Journal for its innovative peer-to-peer truck sharing platform, COOP by Ryder. This program connects fleet owners with businesses needing rental vehicles, achieving 250% year-over-year growth and support from over 14,000 businesses. The award highlights companies reshaping the innovation ecosystem in South Florida.

COOP has expanded nationwide and introduced multiple platform enhancements since its 2018 launch.

Ryder System, Inc. (NYSE: R) has announced a record contribution of $1 million to the United Way for 2022, marking a significant milestone in its 40-year partnership. The annual workplace campaign, titled “Building a Stronger Community, Together,” witnessed increased employee participation and was conducted virtually for over 42,000 employees. The funds will support local communities focusing on health, education, and financial stability. Ryder's Chairman and CEO, Robert Sanchez, praised the efforts of employees in demonstrating a strong spirit of giving.

Ryder System, Inc. (NYSE: R) Chairman and CEO Robert Sanchez will present at the Stephens Annual Investment Conference on November 15, 2022, at 2:00 p.m. CT in Nashville, TN. The event will provide an opportunity for investors to hear insights on the company's logistics and transportation services. Ryder is recognized for its innovative practices in supply chain solutions, fleet management, and environmental initiatives. For more information, a live webcast will be available at http://investors.ryder.com.

Aurora Innovation Inc. (NASDAQ: AUR) and Ryder System, Inc. (NYSE: R) have announced a strategic collaboration to pilot on-site fleet maintenance at Aurora’s terminal in South Dallas. This partnership aims to enhance the utilization of autonomous trucks by embedding Ryder technicians to provide essential maintenance services. The initiative targets improved performance and minimizing downtime, which is crucial as Aurora anticipates increasing pilot customer hauls to 100 per week by the end of 2023. The collaboration is a significant step toward the commercialization of autonomous trucks.

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