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Ryder Chairman Announces Retirement

March 25, 1985

MIAMI (AP) _ Ryder System Inc. chairman Leslie O. Barnes says he’ll retire on May 3, after nearly 10 years with the company.

Barnes, who joined Ryder in 1975 after a 23-year presidency of Allegheny Airlines - a predecessor to USAir - will remain on Ryder’s 11-man board of directors, spokesman Phil Weinbach said Monday.

Ryder president and chief executive officer M. Anthony Burns will succeed Barnes while keepng the posts he has held since 1979 and 1983 respectively.

Ryder, which earned $2.5 billion in 1984, is ranked 12th in assets and 20th in revenue on Fortune magazine’s list of the nation’s 100 largest diversified service companies.

The Miami-based company boasts the world’s largest truck leasing and service system, with 1984 revenues of $1.7 billion.

Ryder also has six other divisions, with operations specializing in insurance, automotive transportation, jet airplane leasing and services, and freight management.

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