In addition, the Board has adopted Corporate Governance Guidelines to further its long-standing goal of providing effective governance of Ryder’s business and corporate affairs.

The Board consists of eleven members, ten of which are independent pursuant to the independence standards set forth in Ryder’s By-Laws and those required by the New York Stock Exchange. Following is background information relating to Ryder’s Board members. This information reflects information set forth in Ryder’s most recent proxy statement and any public announcements regarding any director joining or leaving the Board since the date of the proxy statement.

James S. Beard, 70, served as Vice President of Caterpillar Inc. from 1991 to 2005, with responsibility for the Financial Products Division. His responsibilities included Caterpillar Financial Services Corporation, where he served as President, Caterpillar Insurance Services Corporation, Caterpillar Redistribution Services Inc. and Caterpillar Power Ventures Corporation. He served in the leadership position of Caterpillar Financial Services since its formation in 1981. Other Board Memberships •  Genesco, Inc. •  Rogers Group, Inc Mr. Beard was elected to the Board of Directors in July 2008 and is a member of the Compensation Committee and the Finance Committee.

John M. Berra, 63, served as Chairman of Emerson Process Management, a global leader in providing solutions to customers in process control, and Executive Vice President of Emerson Electric Company, until he retired on October 1, 2010. Prior to October 1, 2008, he served as President of Emerson Process Management. Mr. Berra joined Emerson’s Rosemount division as a marketing manager in 1976 and thereafter continued assuming more prominent roles in the organization until 1997 when he was named President of Emerson’s Fisher-Rosemount division (now Emerson Process Management). Prior to joining Emerson, Mr. Berra was an instrument and electrical engineer with Monsanto Company. Other Board Memberships •  National Instruments •  Dell Children's Medical Center Foundation of Central Texas Mr. Berra was elected to the Board of Directors in July 2003 and is a member of the Compensation Committee the Finance Committee.

Robert J. Eck, 53, serves as President and Chief Executive Officer of Anixter International, Inc. Based in Glenview, Ill., Anixter is a Fortune 500 global distributor of communications and security products, electrical and electronic wire and cable, fasteners and other small components. Mr. Eck has served as President and Chief Executive Officer of Anixter International since 2008. Before his current position, he served as Anixter's Executive Vice President and Chief Operating Officer. Prior to that position, Mr. Eck was Anixter's Executive Vice President of Enterprise Cabling and Security Systems, leading this business segment's profitability and strategy in North America, Europe and the Middle East. Mr. Eck has enjoyed a successful 21-year career with the company and has held roles of increasing responsibility in strategy, supply chain management, sales and marketing, and human resources. Mr. Eck is a graduate of Marquette University in Milwaukee, Wis., and holds a bachelor's degree in economics. Other Board Memberships •  Anixter International, Inc. Mr. Eck was elected to Ryder's Board of Directors in May 2011 and is a member of the Compensation Committee and Governance Committee.

L. Patrick Hassey, 65, served as Chairman and Chief Executive Officer of Allegheny Technologies Incorporated (ATI), a global leader in the production of specialty materials until he retired in May 2011. Mr. Hassey was elected Chairman of ATI in May 2004. From October 2003 to May 2004, he served as President and Chief Executive Officer. Prior to October 2003, Mr. Hassey served as an outside management consultant to ATI executive management. Before joining ATI, Mr. Hassey served as Executive Vice President and a member of the corporate executive committee of Alcoa, Inc. from May 2000 until his early retirement in February 2003. He served as Executive Vice President of Alcoa and Group President of Alcoa Industrial Components from May 2000 to October 2002. Prior to May 2000, Mr. Hassey served as Executive Vice President of Alcoa and President of Alcoa Europe, Inc. Other Board Memberships •  Allegheny Conference on Community Development, which serves Southwestern Pennsylvania •  McGowan Institute for Regenerative Medicine •  Pittsburgh Council, Boy Scouts of America Mr. Hassey was elected to the Board of Directors in December 2005 and is the Chair of the Compensation Committee and a member of the Governance Committee.

Lynn M. Martin, 71, served as Secretary of Labor under President George H.W. Bush from 1991 to 1993. She is a regular commentator, panelist, columnist and speaker on issues relating to the changing global economic and political environment. Ms. Martin was the Davie Chair at the J.L. Kellogg Graduate School of Management and a Fellow of the Kennedy School Institute of Politics. Ms. Martin is the President of Martin Hall Group LLC, a consulting firm. Other Board Memberships •  AT&T Inc. •  The Dreyfus Funds •  Chicago's Lincoln Park Zoo Other Memberships •  Member of the Council on Foreign Relations and the Chicago Council of Global Affairs Ms. Martin was elected to the Board of Directors in August 1993 and is a member of the Compensation Committee and the Governance Committee.

Luis P. Nieto, Jr., 56, served as President of the Consumer Foods Group for ConAgra Foods Inc. from 2007 until he retired in 2009. Mr. Nieto joined ConAgra in 2005 and has held various leadership positions, including President of the Meats Group and Refrigerated Foods Group. ConAgra Foods is one of the largest packaged foods companies in North America. Prior to joining ConAgra, Mr. Nieto was President and Chief Executive Officer of the Federated Group, a leading private label supplier to the retail grocery and foodservice industries from 2002 to 2005. From 2000 to 2002, he served as President of the National Refrigerated Products Group of Dean Foods Company. Prior to joining Dean Foods, Mr. Nieto held positions in brand management and strategic planning with Mission Foods, Kraft Foods and the Quaker Oats Company. Mr. Nieto is the President of Nieto Advisory LLC, a consulting firm. Other Board Memberships •  AutoZone, Inc. Other Memberships •  Member of the University of Chicago's College Visiting Committee Mr. Nieto was elected to the Board of Directors in February 2007 and is a member of the Audit Committee and the Finance Committee.

Eugene A. Renna, 66, retired from ExxonMobil Corporation in January 2002 where he was an Executive Vice President. He was President and Chief Operating Officer of Mobil Corporation, and a member of its Board of Directors, until the time of its merger with Exxon Corporation in 1999. As President and Chief Operating Officer of Mobil, Mr. Renna was responsible for overseeing all of its global exploration and production, marketing and refining, and chemicals and technology business activities. Mr. Renna's career with Mobil began in 1968 and included a range of senior management roles in marketing, refining, domestic and international operations, planning and economics. Mr. Renna was elected to the Board of Directors in July 2002 and is the Chair of the Finance Committee and a member of the Audit Committee.

Abbie J. Smith, 58, is the Boris and Irene Stern Distinguished Service Professor of Accounting at the University of Chicago Booth School of Business. She joined their faculty in 1980 upon completion of her Ph.D. in Accounting at Cornell University. The primary focus of her research is corporate restructuring, transparency, and corporate governance. Professor Smith is a co-editor of the Journal of Accounting Research. She was nominated for a 2005 Smith Breeden Prize for her publication in The Journal of Finance and has received a Marvin Bower Fellowship from the Harvard Business School, a McKinsey Award for Excellence in Teaching and a GE Foundation Research Grant. Other Board Memberships •  HNI Corporation •  DFA Investment Dimensions Group Inc. •  Dimensional Investment Group Inc. Other Memberships •  Trustee of certain Chicago-based UBS Funds Ms. Smith was elected to the Board of Directors in July 2003 and is the Chair of the Audit Committee and a member of the Finance Committee.

E. Follin Smith, 51, served as the Executive Vice President, Chief Financial Officer and Chief Administrative Officer of Constellation Energy Group, Inc. until May 2007, then the nation's largest competitive supplier of electricity to large commercial and industrial customers and the nation's largest wholesale power seller. Ms. Smith joined Constellation Energy Group as Senior Vice President, Chief Financial Officer in June 2001 and was appointed Chief Administrative Officer in December 2003. Before joining Constellation Energy Group, Ms. Smith was Senior Vice President and Chief Financial Officer of Armstrong Holdings, Inc., the global leader in hard-surface flooring and ceilings. Prior to joining Armstrong, Ms. Smith held various senior financial positions with General Motors, including Chief Financial Officer for General Motors' Delphi Chassis Systems division. Other Board Memberships •  Discover Financial Services •  University of Virginia's Darden School Foundation •  Davidson College •  CENTERSTAGE, in Baltimore, Maryland Ms. Smith was elected to the Board of Directors in July 2005 and is the Lead Independent Director, the Chair of the Governance Committee and a member of the Audit Committee.

Gregory T. Swienton, 61, was appointed Chairman of Ryder System, Inc. in May 2002 having been named Chief Executive Officer in November 2000. Mr. Swienton joined Ryder as President and Chief Operating Officer in June 1999. Before joining Ryder, Mr. Swienton was Senior Vice President - Growth Initiatives of Burlington Northern Santa Fe Corporation (BNSF). Prior to that he was BNSF's Senior Vice President - Coal and Agricultural Commodities Business Unit and previously had been Senior Vice President of its Industrial and Consumer Units. He joined the former Burlington Northern Railroad in June 1994 as Executive Vice President - Intermodal Business Unit. Prior to joining Burlington Northern, Mr. Swienton was Executive Director - Europe and Africa of DHL Worldwide Express in Brussels, Belgium from 1991 to 1994, and prior to that, he was DHL's Managing Director - Western and Eastern Europe from 1988 to 1990, also located in Brussels. For the five years prior to these assignments, Mr. Swienton was Regional Vice President of DHL Airways, Inc. in the United States. From 1971 to 1982, Mr. Swienton held various national account, sales and marketing positions with AT&T and Illinois Bell Telephone Company. Other Board Memberships •  Harris Corporation •  Lennox International Inc. •  St. Thomas University in Miami Mr. Swienton was elected to the Board of Directors in June 1999.

Hansel E. Tookes II, 63, served as President of Raytheon International until he retired from Raytheon Company in December 2002. He joined Raytheon in September 1999 as President and Chief Operating Officer of Raytheon Aircraft Company. He was appointed Chief Executive Officer in January 2000 and Chairman in August 2000. Mr. Tookes became President of Raytheon International in May 2001. Prior to joining Raytheon in 1999, Mr. Tookes had served as President of Pratt & Whitney's Large Military Engines Group since 1996. He joined Pratt & Whitney's parent company, United Technologies Corporation in 1980. Mr. Tookes was a Lieutenant Commander and military pilot in the U.S. Navy and later served as a commercial pilot with United Airlines. Other Board Memberships •  Corning Incorporated •  NextEra Energy, Inc. (formerly FPL Group, Inc.) •  Harris Corporation •  BBA Aviation plc Mr. Tookes was elected to the Board of Directors in September 2002 and is a member of the Audit Committee and the Governance Committee.

Updated: July 2011