UPS Board Appoints Carol Tomé As CEO; David Abney To Be Executive Chairman
12 Mars 2020 - 12:45PM
The UPS (NYSE:UPS) Board of Directors today announced it has named
Carol Tomé as UPS Chief Executive Officer, effective June 1. David
Abney, the current Chairman and Chief Executive Officer, will
remain in his role until June 1 when he will become Executive
Chairman of the Board. He will retire from the UPS Board on
September 30. In order to ensure a smooth transition and successful
peak season, Abney will remain as a special consultant through the
end of 2020 and then retire after 46 years of UPS service. On
September 30, William Johnson, UPS Lead Independent Director, will
assume the role of Non-Executive Chairman.
“After a rigorous selection process involving both internal and
external candidates, Carol was the clear choice,” said Johnson, who
also serves as Chair of the UPS Nominating and Corporate Governance
Committee and is a member of the Executive Committee.
“Carol is one of the most respected and talented leaders in
Corporate America and has a proven track record of driving growth
at a global organization, maximizing shareholder value, developing
talent and successfully executing against strategic priorities,”
said Johnson. “As a member of the Board and Chair of the Audit
Committee, Carol has in-depth knowledge of UPS’s business, strategy
and people, and is the right executive to lead the company at this
important time in its transformation.”
Johnson continued, “We congratulate David on a truly exceptional
career at UPS. He has undertaken bold actions to place UPS at the
forefront of the transportation industry and position its global
network and people to capitalize on emerging trends that will carry
the company well into the future.”
“UPS has been one of my life’s passions and through UPS I have
been able to live the American dream,” said David Abney. “I am
proud to have worked with UPSers to prepare this great company for
its next 100 years. I am confident in the UPS management team and
their capabilities to execute our strategies in the future. This is
the right time for me to pass the baton. I am extremely pleased for
Carol and know she is the best choice to lead the company. She
understands UPS’s culture and values, is a strategic leader and
possesses a customer-first mindset.”
“I look forward to working with and further developing the
talented management team and the company’s 495,000 employees to
deliver for our customers and shareowners,” Carol Tomé said. “David
has led a remarkable transformation at UPS and I plan to build on
his success. UPS’s rich culture and commitment to its values will
guide us as we continue to lead the industry and build on the
company’s already strong foundation.”
Carol Tomé becomes the 12th chief executive officer in the
113-year history of UPS. She has been a member of the UPS Board of
Directors since 2003 and serves as Chairperson of the Audit
Committee. Tomé is the former Executive Vice President and Chief
Financial Officer of The Home Depot, the largest home improvement
retailer in the U.S. with 2,300 stores and 400,000 employees. Her
responsibilities included corporate strategy, finance and business
development. During her 18-year tenure as CFO, she is credited with
helping to deliver a 450 percent increase in The Home Depot’s
shareholder value.
Abney was appointed CEO in 2014 and as Chairman in 2016.
Under his leadership, UPS has:
- increased revenue by 27%, increased adjusted net income by
nearly 50% and raised adjusted earnings per share by nearly
60%;
- returned over $29 billion to shareholders through dividends and
share repurchases;
- implemented a multi-year transformation program that
established strategic growth priorities and significantly improved
U.S. operating leverage in 2019;
- significantly expanded global network capacity, enabling over
32 million package deliveries per day during the 2019 peak
season;
- created UPS Flight Forward and obtained the FAA’s first full
approval to operate a drone airline;
- shifted the composition of the Board and management team to
increase the company’s diversity.
Abney previously served as Chief Operating Officer since 2007,
overseeing logistics, sustainability, engineering and all facets of
the UPS transportation network. Before serving as COO, he was
President of UPS International, leading the company's strategic
initiative to increase its global logistics capabilities. During
his career, he was also involved in a number of global acquisitions
that included Coyote, Marken, the Fritz Companies, Sonic Air,
Stolica, Lynx Express, and Sino-Trans in China. He began his UPS
career in 1974 as a package handler in a small facility in
Greenwood, Mississippi, while attending Delta State University.
Editor’s note: Full bios and photos are available at UPS
Leadership.
About UPS
UPS (NYSE: UPS) is a global leader in logistics, offering a
broad range of solutions including transporting packages and
freight; facilitating international trade, and deploying advanced
technology to more efficiently manage the world of business.
Headquartered in Atlanta, UPS serves more than 220 countries and
territories worldwide. UPS was awarded America’s Best Customer
Service company for Shipping and Delivery services by Newsweek
magazine; Forbes Most Valuable Brand in Transportation; and top
rankings on the JUST 100 list for social responsibility, the Dow
Jones Sustainability World Index, and the Harris Poll Reputation
Quotient, among other prestigious rankings and awards. The company
can be found on the web at ups.com or pressroom.ups.com and its
corporate blog can be found at ups.com/longitudes The company’s
sustainability eNewsletter, UPS Horizons, can be found
at ups.com/sustainabilitynewsletter. To get UPS news direct,
follow @UPS_News on Twitter. To ship with UPS, visit
ups.com/ship.
Steve Gaut
404-828-8787
United Parcel Service (NYSE:UPS)
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