Commercial fleet manager Ryder System appointed Scott T. Parker as executive vice president and chief financial officer responsible for Ryder’s financial management functions including finance and audit, treasury, tax, accounting, corporate strategy, and investor relations. Parker succeeds Art A. Garcia, who is retiring.

In his new roles, Parker will also serve as a member of Ryder’s Executive Leadership team and report to Chairman and CEO Robert E. Sanchez. He will be based in the global headquarters in Miami.

“Scott is a highly talented and seasoned leader with a proven track record of successfully driving top-line growth and improved profitability,” said Sanchez. “His extensive financial expertise, along with his strategic mindset, will help take us to the next phase of our growth strategy in the constantly evolving transportation and logistics industry.”

Parker previously served for four years as EVP and CFO of consumer finance company OneMain Financial, where he was responsible for overseeing all financial operations. He also had responsibility for the credit, insurance, and marketing functions of OneMain.

Prior to OneMain, Parker served as the CFO for commercial finance company CIT Group and CFO and chief operating officer for Cerberus Operations & Advisory, an affiliate of private investment firm Cerberus Capital Management.

Parker also spent more than 15 years in leadership roles within the industrial and financial services businesses at General Electric, including as CFO of GE Capital Solutions.

“I’m thrilled to join a new industry and such an innovative, forward-thinking company,” said Parker. “I look forward to working with the management team as we continue to grow the business and build on our success.”

As part of the planned succession process, Garcia will continue in the CFO role until April 5, 2019 and thereafter serve as a special advisor to the CEO until his retirement on April 30, 2019.

“I would like to thank Art for his leadership during his 20-year-career with Ryder, helping to deliver the company to the strong position it holds today, and wish him all the best in his retirement,” added Sanchez.