Swift Names Cunningham President and CEO, Enzor Departs
Swift Transportation Co. Inc., Phoenix, Ariz., has named Robert W. Cunningham president and CE
Swift Transportation Co. Inc., Phoenix, Ariz., has named Robert W. Cunningham president and CEO
and added him to the board of directors effective immediately. Both posts had been held by Jerry Moyes, who remains chairman.
At the same time, Swift announced that chief financial officer Gary Enzor is leaving the company. Swift spokesman David Berry told Truckinginfo.com that Enzor’s departure is totally coincidental.
"I was presented with an opportunity to become the chief operating officer of another company and felt it was the right decision for my family and my career,” Enzor said.
The changes come a month after Swift announced that the Securities and Exchange Commission had begun an official investigation of certain stock trades made by Moyes, as well as selected company repurchases. Also in October, the company reported lower than expected quarterly earnings while competitors were posting record revenue and profits.
Robert Cunningham was a senior executive at Swift from 1985 to 1997. It is anticipated that Cunningham will become the Swift CEO by Dec. 31, 2005. He currently owns Cunningham Commercial Vehicles, a distributor of Freightliner, Sterling and Western Star Trucks in Arizona. Cunningham is in the process of selling the business. Swift operates Freightliner trucks, among others.
According to the Swift release, Cunningham will start immediately with Swift and work on a transition basis until the franchise is sold.
The company announced that it has created an "Office of the Chairman," consisting of Jerry Moyes, Bill Riley, the company's senior executive vice president, and Cunningham. The board also appointed Jock Patton as the company's lead director, to serve as an official liaison between the board and management.
Earlier this month in a public letter to the Swift board the Teamster Union renewed earlier shareholder efforts to have the positions of chairman and CEO split between two individuals. The union has lost representation battles in Swift operating units.
Swift’s Berry said the changes at Swift had nothing to do with the Teamster letter.
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