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Ryder System has named Robert Sanchez head of its global vehicle leasing business.

Sanchez, 45,Ìýwill take over as president of Global Fleet Management Solutions, Ryder’s largest business segment, on Sept. 1.

Sanchez is currently the company’s chief financial officer and has been with Ryder for 17 years. He succeeds Anthony Tegnelia, who is retiring after 33 years with the Miami-based company

Art Garcia, 49, Ryder’s senior vice president and controller, will replace Sanchez as CFO.

Ryder is ranked No. 5 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.