SOURCE: Swift Transportation

December 13, 2007 18:16 ET

Swift Corporation Names Stan Rideout as Chief Financial Officer

PHOENIX, AZ--(Marketwire - December 13, 2007) - 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 Information

  • Contact:
    Ginnie Henkels
    Assistant Treasurer
    or
    Ramey Peru
    Executive Vice President and Chief Financial Officer
    Office: 602-269-9700