PHOENIX, AZ, Dec 13 (MARKET WIRE) --
Swift Corporation ("Swift" or the "Company") announced today that Stan Rideout
will
be the Company's new Executive Vice President and Chief Financial Officer.
Effective January 1, 2008, Mr. Rideout will oversee the finance, legal and
risk strategies of the Company.
Jerry Moyes, Chief Executive Officer and President of Swift, stated, "We are
very pleased to have Stan join our executive team. Our leadership team, which
includes the recent addition of Gerry Gluscic as Executive Vice President
spearheading our business transformation efforts and the return of Ken Runnels
as Executive Vice President overseeing our Eastern Region, is the best in the
industry. We have the talent in place to move this company forward."
Mr. Rideout joins Swift following a 25-year career with Phelps Dodge
Corporation ("Phelps Dodge"), which was later sold to Freeport-McMoRan Copper &
Gold, Inc.
for $26 billion in March 2007. During his tenure with Phelps Dodge, Mr.
Rideout served in various leadership roles within financial and treasury
management and investor relations. Specifically, for three years prior to the
completion of the acquisition, he served as the Treasurer and Investor
Relations Officer for Phelps Dodge and, from 1999 through 2004, he served as
the corporation's Controller with responsibilities over external reporting,
forecasting, budgeting and investor relations. Prior to 1999, Mr. Rideout's
roles at Phelps Dodge included responsibilities over strategic planning and
Chief Financial Officer for its international wire and cable company, which
comprised 14 international business units located in Latin America, Asia and
Africa.Mr. Rideout received a Masters in Business Administration from the
University
of Evansville, Evansville, IN (1984) and a Bachelor of Science with a
concentration in Finance from Western Kentucky University, Bowling Green, KY
(1980).
Mr. Rideout will be replacing Ramey Peru, who in November 2007 submitted his
resignation due to personal and family reasons. Mr. Peru's resignation as
Executive
Vice President, Chief Financial Officer and member of the Board of Directors
will be effective December 31, 2007, after which he will continue as an
advisor to the Company on a consulting basis. Mr. Moyes is committed to
putting in place a Board of Directors comprised of a majority of independent
directors in 2008. Mr. Moyes and Mr. Peru are discussing the possibility of Mr.
Peru re-joining the Board of Directors once his advisory role has concluded.
Swift is the holding company for Swift Transportation Co., Inc., a
truckload carrier headquartered in Phoenix, Arizona. Swift's trucking
subsidiary
operates the largest fleet of truckload carrier equipment in the United
States consisting of 18,000 tractors, 49,000 trailers and 5,800 intermodal
containers. Operating from 31 major terminals in 26 states and Mexico, Swift
Transportation provides strong, regional operations, an expanding intermodal
division, and various specialty and dedicated services to its customers while
focusing on safety and service through its 25,000 employees and independent
contractors.
Forward-looking statement disclosure:
This press release contains statements that may constitute forward-looking
statements,
usually identified by words such as "anticipates," "believes," "estimates,"
"plans,"
"projects," "expects," "intends" or similar expressions which speak only as of
the date the statement was made. Such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform
Act of 1995. Such statements include, but are not limited to, statements
concerning
the expectation of the timing of a majority of independent directors.
Contact:
Ginnie Henkels
Assistant Treasurer
or
Ramey Peru
Executive Vice President and Chief Financial Officer
Office: 602-269-9700
Copyright 2007, Market Wire, All rights reserved.
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