UPS Names New CEO; Tomé to Replace Abney

Abney by Christpher Goodney/Bloomberg News

UPS Inc. announced that former Home Depot Chief Financial Officer Carol Tomé will replace David Abney as CEO of the company, effective June 1.

Tomé becomes the 12th CEO in the company’s 113-year history. She has been a member of the UPS Board of Directors since 2003 and serves as Chairperson of the Audit Committee.

Abney will transition to Executive Chairman of the Board, and will retire from the UPS Board on Sept. 30, according to a March 12 announcement from the company. Abney will remain as a special consultant through the end of 2020 and then retire after 46 years of UPS service.

Also on Sept. 30, William Johnson, UPS lead independent director, will assume the role of non-executive chairman.

Tome

“After a rigorous selection process involving both internal and external candidates, Carol was the clear choice,” said Johnson, who is the chair of the UPS Nominating and Corporate Governance 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,” he added.

“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,” Tomé said.

UPS ranks No. 1 on the Transport Topics Top 100 list of the largest for-hire carriers in North America.

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