Abney to step down as UPS CEO

By Damian Brett

Carol Tome

The UPS board of directors today named Carol Tomé as UPS chief executive, effective from June 1, to replace David Abney.

Abney, who is also chairman, 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.

“Tomé is one of the most respected and talented leaders in corporate America and has a proven track record of driving growth at a global organizations, maximizing shareholder value, developing talent and successfully executing against strategic priorities,” he added.

“As a member of the Board and Chair of the Audit Committee, Tomé 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.”

Abney said: “UPS has been one of my life’s passions and through UPS I have been able to live the American dream.”

“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 Tomé 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.”

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 US

Her responsibilities included corporate strategy, finance and business development.

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