Ryder Names Chief Operating Officer and New Chief Financial Officer

MIAMI--(BUSINESS WIRE)--Dec 16, 2024--

Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation, and fleet management solutions, today announces the appointment of John J. Diez to president and chief operating officer (COO), effective January 1, 2025. In this new role, Mr. Diez will continue to report to Ryder Chairman and Chief Executive Officer Robert E. Sanchez with responsibility for the general management of all business operations of Ryder’s three business segments.

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In addition, Cristina Gallo-Aquino, most recently senior vice president, controller, and principal accounting officer since August 2020, has been promoted to succeed Mr. Diez as executive vice president and chief financial officer (CFO), effective January 1, 2025. In this role, Ms. Gallo-Aquino will oversee all of Ryder’s financial management functions, including finance and accounting, treasury, tax, audit, investor relations, and continue to serve as principal accounting officer.

“At Ryder, we have a commitment to talent development at all levels in our organization. This includes providing leadership opportunities in positions that broaden our team’s capabilities through rotational assignments, as well as providing roles of increasing responsibility that contribute to the long-term progress and stability of our company,” says Mr. Sanchez. “These appointments are an example of that commitment. Both executives bring a powerful combination of industry knowledge to their new roles, complemented by a deep understanding of Ryder’s overall business operations and how our business units collaborate.”

During his 22-year tenure at Ryder, Mr. Diez has held a variety of senior business and financial management roles with increasing responsibility. Prior to his current role serving as the company’s executive vice president and chief financial officer since May 2021, he was president of Ryder’s FMS business, leading all areas of global fleet operations, as well as president of the company’s DTS business unit where he led strong revenue growth and improved business returns.

Ms. Gallo-Aquino joined Ryder in 2004 and has extensive financial and accounting experience. Prior to her current role, she served as vice president and chief financial officer for the company’s FMS business unit and vice president and corporate controller.

NOTE: Headshots of Mr. Diez and Ms. Gallo-Aquino are available in the Ryder Newsroom and via BusinessWire.

About Ryder System, Inc.

Ryder System, Inc. (NYSE: R) is a fully integrated port-to-door logistics and transportation company. It provides supply chain, dedicated transportation, and fleet management solutions, including warehousing and distribution, contract manufacturing and packaging, e-commerce fulfillment, last-mile delivery, managed transportation, professional drivers, freight brokerage, nearshoring solutions, full-service leasing, maintenance, commercial truck rental, and used vehicle sales to some of the world’s most-recognized brands. Ryder provides services throughout the United States, Mexico, and Canada. In addition, Ryder manages nearly 250,000 commercial vehicles, services fleets at 760 maintenance locations, and operates nearly 300 warehouses encompassing more than 100 million square feet. Ryder is regularly recognized for its industry-leading practices; technology-driven innovations; corporate responsibility; environmental management; safety, health and security programs; military veteran recruitment initiatives; and the hiring of a diverse workforce. www.ryder.com

Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. 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.

ryder-org

Ryder System, Inc. appoints John J. Diez to its top operations role as president and chief operating officer (COO), effective January 1, 2025. Succeeding Mr. Diez as Ryder’s Executive Vice President and Chief Financial Officer (CFO) is Cristina Gallo-Acquino. (Photo: Business Wire)

NEW YORK (AP) — U.S. stocks are hanging near their records Wednesday as oil prices fall and ease the pressure on households and businesses worldwide.

The S&P 500 slipped 0.1% below its all-time high set the day before. The Dow Jones Industrial Average was up 183 points, or 0.4%, as of 12:56 p.m. Eastern time, and the Nasdaq composite was 0.1% lower.

Stocks of companies with big fuel bills helped lead the way on hopes that lower oil prices will remove a big drag on their profits. Norwegian Cruise Line Holdings climbed 5.7%, and United Airlines rallied 7.3%. Delta Air Lines rose 3.7% and is on track to set an all-time high.

The price for a barrel of Brent crude oil fell 4.1% to $95.48 after the ceasefire between the United States and Iran appeared to hold despite the U.S. military launching what it called “self-defense” strikes in southern Iran. A barrel of benchmark U.S. crude fell even more, 4.2%, to $89.69 on hopes that the United States and Iran can reach an agreement to reopen the Strait of Hormuz and allow oil tankers to exit the Persian Gulf for deliveries again.

Stocks have been able to run to records despite the painful inflation and uncertainty caused by high oil prices largely because companies have reported surprisingly strong profits for the start of 2026, and the forecast is for them to continue.

Bath & Body Works rallied 11.2%, and Abercrombie & Fitch climbed 11.8% after both reported bigger profit for the latest quarter than analysts expected. That's even as U.S. consumers continue to say they're feeling discouraged about the economy and inflation.

Lululemon Athletica rose 3.6% after reaching a deal with its founder, Chip Wilson, where it will add a former chief marketing officer of ESPN and a former co-CEO of On to its board of directors.

On the losing side of Wall Street was Dick's Sporting Goods, which dropped 4.9% despite delivering a profit for the latest quarter that edged past expectations. Analysts pointed to how much profit it wrung out of each $1 in revenue, which some called a bit weak.

Oil-and-gas stocks also sank, hurt by the dropping prices for crude. Exxon Mobil fell 1.4%, and Chevron slipped 0.8%. Halliburton dropped 3% to bring its gain for the year so far back toward 40%.

In the bond market, Treasury yields eased after falling oil prices took pressure off inflation. The yield on the 10-year Treasury slipped to 4.48% from 4.50% late Tuesday and from 4.67% roughly a week ago.

It’s a respite following recent gains for yields in bond markets worldwide, which threatened to slow economies and undercut prices for stocks and all kinds of other investments. High yields have already forced the average long-term U.S. mortgage rate to its most expensive level since last summer, and they could curtail companies’ borrowing to build the artificial-intelligence data centers that have supported the U.S. economy’s growth recently.

In stock markets abroad, indexes were mixed across Europe and Asia. South Korea's Kospi was one of the world's best performers and jumped 2.3% after SK Hynix, which is a big beneficiary of the artificial-intelligence boom, soared 9.3%.

A day before, Micron Technology surged to become the latest Big Tech company to be worth more than $1 trillion on AI excitement. Its stock has more than tripled already in 2026, and analysts at UBS said Tuesday it could soar even more because of how fundamentally AI has improved demand for computer memory.

AP Business Writer Elaine Kurtenbach contributed to this report.

Trader Edward Curran, left, and specialist Meric Greenbaum, center, work on the floor of the New York Stock Exchange, Friday, May 22, 2026. (AP Photo/Richard Drew)

A person looks at an electronic stock board showing Japan's Nikkei index at a securities firm Monday, May 25, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)

A dealer walks past near the screens showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at a dealing room of Hana Bank in Seoul, South Korea, Wednesday, May 27, 2026. (AP Photo/Lee Jin-man)

A dealer walks past near the screens showing the foreign exchange rates at a dealing room of Hana Bank in Seoul, South Korea, Wednesday, May 27, 2026. (AP Photo/Lee Jin-man)

A dealer walks past near the screens showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at a dealing room of Hana Bank in Seoul, South Korea, Wednesday, May 27, 2026. (AP Photo/Lee Jin-man)

A dealer stands near the screens showing the Korea Composite Stock Price Index (KOSPI), the foreign exchange rate between U.S. dollar and South Korean won and the Korean Securities Dealers Automated Quotations (KOSDAQ) at a dealing room of Hana Bank in Seoul, South Korea, Wednesday, May 27, 2026. (AP Photo/Lee Jin-man)