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Ryder Names Former CIT, GE Exec as CFO

March 28, 2019, 07:20 AM

Ryder System, Inc., a leader in commercial fleet management, dedicated transportation and supply chain solutions, announced the appointment of Scott T. Parker as Executive Vice President and Chief Financial Officer responsible for Ryder’s financial management functions, including finance and audit, treasury, tax, accounting, corporate strategy, and investor relations.

Parker succeeds Art A. Garcia who in September 2018 announced his upcoming retirement.

Parker will also serve as a member of Ryder’s Executive Leadership Team and report to Chairman and Chief Executive Officer Robert E. Sanchez. He will join Ryder on April 5 and be based in the global headquarters in Miami, FL.

“Scott is a highly talented and seasoned leader with a proven track record of successfully driving top-line growth and improved profitability,” Sanchez said. “His extensive financial expertise, along with his strategic mindset, will help take us to the next phase of our growth strategy in the constantly evolving transportation and logistics industry.”

Since November 2015, Parker served as EVP and CFO for OneMain Financial, a consumer finance company, responsible for overseeing all financial operations including accounting, tax, financial planning and analysis, treasury, and investor relations departments. He also had responsibility for the credit, insurance and marketing functions of OneMain.

Prior to his most recent role at OneMain, Parker served as the CFO for commercial finance company CIT Group Inc. from July 2010 to October 2015. Prior to joining CIT, he served as CFO from 2006 to 2008 and chief operating officer from mid-2008 to 2010 for Cerberus Operations & Advisory Company, an affiliate of private investment firm Cerberus Capital Management.

Parker also spent more than 15 years in leadership roles within the industrial and financial services businesses at General Electric Company, including CFO of GE Capital Solutions from 2005 to 2006. Parker received a bachelor of science degree in agricultural economics (Business Management and Marketing) from Cornell University.

“I’m thrilled to join a new industry and such an innovative, forward-thinking company,” said Parker. “I look forward to working with the management team as we continue to grow the business and build on our success.”

As part of the planned succession process, Garcia will continue in the CFO role until April 5 and, thereafter, will serve as a special advisor to the CEO until his retirement on April 30.

“I would like to thank Art for his leadership during his 20-year-career with Ryder, helping to deliver the company to the strong position it holds today, and wish him all the best in his retirement,” Sanchez added.

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