Arizona-based Swift Transportation Company has announced the retirement of founder and CEO, Jerry Moyes, effective 31 December 2016.
The Swift Board of Directors has unanimously appointed Richard Stocking, who has served as Swift’s President and Chief Operating Officer since 2010, to replace Moyes as President and Chief Executive Officer as of 1 January 2017. From that date, Moyes will serve as founder, Chairman Emeritus and a member of the Board of Directors.
According to Swift, Moyes and Stocking will serve as Co-CEOs until 31 December 2016, although all day-to-day responsibilities will be immediately transitioned to Stocking.
“Jerry and Richard have worked closely together for many years, and we expect a seamless transition,” Richard H. Dozer, Chairman of the Board of Directors.
“We are deeply grateful to Jerry for his innumerable contributions to Swift’s growth and success. We wish Jerry all the best in his well-deserved retirement and look forward to his continued guidance and experience on the Board.”
We are confident Richard’s vast experience at Swift, together with his relevant industry and leadership capabilities, position him well to succeed Jerry and continue building on his legacy without missing a beat.”
Moyes said, “I want to thank everyone at Swift for helping me build this great company over the last 50 years. Swift is a strong company, strategically well positioned for continued growth and success. I am proud of all of Swift’s employees who drive the performance of this company, and I am confident that Swift will continue on its successful path.”
Stocking stated, “I want to thank Jerry for all he has done in building this company, and for working closely with me over the last several years in anticipation of his retirement. Jerry is a true visionary in our industry, and it is a great honour that the Board selected me to succeed him.”