Ryder Announces Departure of CFO

Ryder System Inc. said Friday that its chief financial officer, C.J. Nelson, is leaving the company "to pursue a new business opportunity."

The company said that Tracy Leinbach, currently executive vice president of fleet management solutions, will assume the duties of interim CFO.

Nelson came on board with Ryder four years ago, the company said, after more than 20 years at Koch Industries, a diversified manufacturer. He is leaving to join JM Family Enterprises Inc. as that company’s executive vice president and CFO.

JM Family Enterprises is a “diversified automotive corporation whose principal businesses focus on vehicle distribution and processing, finance and warranty services, and insurance activities,” according to Ryder’s press release.

Nelson will also resign his position on Ryder’s board of directors in connection with his departure, Ryder said.

Ryder Chairman and Chief Executive Officer Greg Swienton said that Nelson had done “a fine job” as his company’s CFO and that the company wishes him well.

Based in Miami, Ryder is ranked No. 3 on the 2002 Transport Topics 100 listing of the largest trucking companies in the United States and Canada.

I>By Sean McNally

I>Staff Reporter

(Click here for the full press release.)