Printer Friendly

RYDER WILL ESTABLISH NEW INTERNATIONAL DIVISION

 MIAMI, Dec. 21 /PRNewswire/ -- Ryder System, Inc. (NYSE: R) will establish a new International Division to develop a strategy for the growth in international markets of Ryder's highway transportation services business and to manage operations of the company's highway transportation services outside the United States, it was announced here today by Ryder Chairman, President and Chief Executive Officer M. Anthony Burns.
 Terence L. Russell, currently president of Ryder's Detroit-based Automotive Carrier Division, will become president of the new International Division. He will also serve as chairman of the Automotive Carrier Division. A new president for that division will be named later.
 In making the announcement, Burns said he expects the new division to become operational during the first quarter of 1993.
 Commenting on why Ryder is establishing the new division, Burns said, "We believe that in today's global marketplace, there are significant growth opportunities outside the United States for Ryder's highway transportation services. Some of these opportunities will involve the provision of service to existing customers as they, themselves, grow outside the United States; others will come from expansion of our customer base. Ryder International will be responsible for identifying and studying the opportunities, selecting those which have the greatest potential for us, and then developing appropriate services and service packages to take fullest advantage of the opportunities we select.
 "Our existing operations in Canada, the United Kingdom and Germany will become part of Ryder International right away. The international operating experience we have developed in those countries will assist us as we increase our presence outside the United States."
 Terence L. Russell, who will be president of the new division, joined Ryder in 1976 as assistant general counsel. In 1979, he was elected to the additional position of secretary of Ryder System, Inc. He was elected a vice president of Ryder System in 1981 and in 1983 was elected senior vice president-development. He became president of the company's former Insurance Management Services Division in 1984. In 1988 he moved to Detroit as president of the automotive carrier division, his current position.
 Before joining Ryder System, Russell was an attorney with The May Department Stores Company, St. Louis. He holds both a bachelor's degree in political science and a law degree from Washington University, St. Louis.
 -0- 12/21/92
 /NOTE TO EDITOR: Ryder System, Inc. is the parent of a group of companies which provide high-quality highway transportation services and aviation services. Revenue for the 12 months ended Sept. 30, 1992 was $5.2 billion, and assets at Sept. 30, 1992 were $4.9 billion.
 Ryder System stock is a component of the Dow Jones Transportation Average and the Standard & Poor's 500 Index. Fortune magazine ranks Ryder among the 25 largest diversified services companies in the United States.
 CONTACT: Art Stone of Ryder System, Inc., 305-593-3180/
 (R)


CO: Ryder System, Inc. ST: Florida IN: TRN SU:

AW-JB -- FL005 -- 8722 12/21/92 11:08 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 21, 1992
Words:486
Previous Article:GRACE ANNOUNCES AGREEMENT TO SELL GRACE PETROLEUM'S EAST TEXAS FIELDS
Next Article:NISSAN AND MADD TEAM UP FOR SAFE DRIVING MESSAGE
Topics:


Related Articles
GRIFFIN ELECTED PRESIDENT OF RYDER'S AUTOMOTIVE CARRIER DIVISION
WEST ELECTED SENIOR VICE PRESIDENT AND GENERAL MANAGER OF RYDER'S INTERNATIONAL DIVISION
ECKHART, FRANCIS AND SCHNEIDER BECOME VICE PRESIDENTS OF RYDER INTERNATIONAL
RYDER REPORTS RECORD REVENUE AND EARNINGS IN FIRST QUARTER
RYDER TO MANAGE AND OPERATE LOGISTICS SYSTEM FOR WHIRLPOOL
RYDER AUTOMOTIVE OPERATIONS, INC. EMPLOYEES TO RETURN TO WORK
BAESA AND RYDER SYSTEM, INC. ANNOUNCE PRELIMINARY AGREEMENT FOR BRAZILIAN OPERATIONS
RYDER REPORTS HIGHER EARNINGS IN 1995
RYDER SHARPENS FOCUS ON DEVELOPMENT OF CONTRACTUAL BUSINESS
Ryder Appoints Robert S. Brunn Director Of Investor Relations.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters