Swift Transportation’s Jerry Moyes, founder and CEO of the country’s largest truckload carrier, will retire at the end of 2016, the company announced this week. Richard Stocking, Swift’s President and COO, has been unanimously appointed by the Swift’s Board to assume the role as CEO.
Stocking will remain president of the company. Through the end of the year, Stocking and Moyes will run the company as co-CEOs. Starting Dec. 31, Stocking will assume the position as the sole CEO of Swift.
Moyes founded Swift with a single truck 50 years ago. Swift’s fleet now has more than 20,000 trucks.
Moyes will remain on the company’s Board of Directors and will hold the position of Chairman Emeritus. “I want to thank everyone at Swift for helping me build this great company over the last 50 years,” Moyes said. “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, 46, has been with Swift since 1992. He’s held the title of President and COO since mid-2010.
“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,” said Richard Dozer, chairman of Swift’s Board of Directors. “Richard has a deep understanding of our business, operations and strategy, and an appreciation for all of the hard work and dedication of our employees.”