Swift Transportation Co., among the nation’s largest truckload providers, has announced the retirement of Jerry Moyes, founder and CEO, effective Dec. 31, 2016. The board of directors has unanimously appointed Richard Stocking as president and chief executive officer Stocking joined Swift in 1992 and has served as the company’s president and chief operating officer since 2010.
Swift Transportation, based in Phoenix, Ariz., operates a tractor fleet of about 18,000 commercial trucks driven by company and owner-operator drivers.
During the transition period, Moyes and Stocking will serve as co-CEOs, although all day-to-day responsibilities will be immediately transitioned to Stocking. Beginning Jan. 1, 2017, Moyes will serve as founder and chairman emeritus and a member of the board of directors.
“Beginning 50 years ago, hauling steel with a single truck, Jerry Moyes created a strong, enduring company and built Swift into one of the largest truckload providers in the U.S. — with its fleet of nearly 20,000 trucks,” said Richard H. Dozer, chairman of the board of directors. “Jerry and Richard have worked closely together for many years, and we expect a seamless transition. 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.”
Dozer continued, “We have thoughtfully prepared for this leadership succession, and we are pleased that Swift has an extremely qualified and experienced leader in Richard who is ready to assume the responsibilities as Swift’s next CEO. Richard has significant expertise managing all facets of the business, including operations, sales, marketing, safety and recruiting, among others. 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 honor that the board selected me to succeed him. I am confident that we have the right team and the right plan in place to continue delivering best-in-class solutions to our customers, as well as creating value for our shareholders.”
Stocking, 46, has served as president and chief operating officer of Swift Transportation Co. since July 2010 and as president and chief operating officer of Swift’s trucking subsidiary since January 2009. As part of the Swift family for a total of 25 years, Stocking has served in other leadership capacities such as executive vice president of sales and regional vice president of operations.