Change in UPS Top Management

change in ups top management
change in ups top management

UPS (NYSE: UPS) Board of Directors announced that as of June 1, Carol Tomé was appointed as UPS General Manager (CEO). David Abney, who is currently serving as the Chairman of the Board and General Manager, has been announced to be the Chairman of the Board of Directors from 1 June. Abney, who will retire from the UPS Board of Directors on September 30, will continue to serve as a private consultant until the end of 2020 in order to smoothly circumvent the transition period and successfully complete the busy season; At the end of this period, he will retire by completing his 46-year career at UPS. As of September 30, UPS Chief Independent Director William Johnson will serve as the Chief Executive Officer of the Executive.

Johnson, who also serves as UPS Nomination and Corporate Governance Committee President and Executive Committee Member, said, “After a rigorous selection process involving candidates both inside and outside the company, we made a clear decision in Carol. As one of the most respected and talented leaders in the American business world, Carol is a proven name in leading global growth, maximizing stakeholder value, talent development and successfully implementing strategic priorities. ”

“Carol, who is a Board Member and Chairman of the Supervisory Board, has in-depth knowledge of UPS's business model, strategy, and employees, and is the most appropriate manager to lead the company in this important transformation process,” said Johnson. We congratulate David on his extraordinary career at UPS. He took bold steps to raise UPS to the top of the transportation industry, and managed to position the company to a successful future by leveraging the rising trends of the company's global network and employees. ”

David Abney said, “UPS has always been one of my passions in this life, and thanks to UPS, I had the American dream. I am proud to have prepared this excellent company for the next 100 years, working with the UPS family. I am confident that the UPS management team will carry our strategies to the future with the competencies they have. Now it's time for me to hand over the flag. I was extremely happy with the news of Carol's appointment; I know he's the best person to run this company. He is a strategic leader with a mindset that knows the UPS culture and values ​​closely and always gives the customer the top priority. ”

Preparing to take over the CEO seat, Carol Tomé said: “I look forward to meeting the expectations of our customers and shareholders by working with our talented management team and 495.000 employees of our company and further improving ourselves. David carried out an extraordinary transformation process at UPS; I plan to add new ones to his success. In the light of UPS's rich culture and unwavering commitment to its values, we will continue to lead the industry and grow on the solid foundation of our company. ”

Carol Tomé, the 113th CEO of UPS, who has been in the 12-year history, has been serving as UPS Board Member since 2003, as well as serving as Chairman of the Supervisory Board. Tomé, who previously served as Vice President and CFO at The Home Depot, the largest home products retailer in the United States, with 2.300 branches and 400.000 employees, assumed responsibilities in corporate strategy, finance and business development, and served as a CFO for 18 years. In the period, it contributed to the increase of the stock value of The Home Depot by 450 percent.

During the leadership period of Abney, who was appointed as CEO in 2014 and as Chairman of Board in 2016, UPS;

  • In addition to increasing its turnover by 27% and its net profit by approximately 50%, it also increased its earnings per share by approximately 60%.
  • With dividends and share repurchases, it has brought over $ 29 billion to its shareholders.
  • By implementing a several-year transformation program in which strategic growth priorities were set, the US operating leverage significantly increased in 2019.
  • It has increased its global network capacity to a great extent, achieving more than 2019 million packet delivery figures per day in 32 during the peak season.
  • By launching UPS Flight Forward, it has received full approval for the first airline to run a drone from FAA.
  • It has increased the diversity in the company by changing the structure of the Board of Directors and senior management team.

Abney, who previously served as Vice President of Operations (COO) since 2007, has managed logistics, sustainability and engineering processes, as well as all levels of the UPS transport network. Prior to his role as COO, he led strategic initiatives to increase the company's global logistics competencies as the President of UPS International. He has also been involved in numerous global acquisitions and mergers during his career, such as Coyote, Marken, the Fritz Companies, Sonic Air, Stolica, Lynx Express and Sino-Trans in China. Starting his career at UPS in 1974 while continuing his education at Delta State University, Abney first started working as a package handling officer at a small facility in Greenwood.



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