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UPS has announced that Carol Tomé (pictured above) will succeed David Abney as the company’s new chief executive.

Mr Abney, currently both chief executive and chairman, will relinquish the former position on 1 June and retire from the company altogether on 30 September.

However, it added that, “in order to ensure a smooth transition and successful peak season, Mr Abney will remain as a special consultant through [to] the end of 2020”.

William Johnson (pictured below), currently UPS lead independent director, will become non-executive chairman on 30 September.

Ms Tomé has been a member of the UPS board since 2003 and is currently chair of the audit committee. Previously she was executive vice president and chief financial officer of The Home Depot, the largest home improvement retailer in the US, for 18 years.

“After a rigorous selection process involving both internal and external candidates, Carol was the clear choice,” said said Mr Johnson, who also serves as 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 organisation, maximising shareholder value, developing talent and successfully executing against strategic priorities.

“She 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,” he added.

Ms Tomé said: “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. David has led a remarkable transformation at UPS and I plan to build on his success.”

The transition will bring to an end a 46-year career at UPS for Mr Abney (pictured below), who was appointed chief executive in 2014 and chairman in 2016.

He served as chief operating officer from 2007, overseeing logistics, sustainability, engineering and all facets of the UPS transport network, and prior to that was president of UPS International.

He has been involved in a number of UPS acquisitions, including 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.

Mr Johnson said: “We congratulate David on a truly exceptional career at UPS. He has undertaken bold actions to place UPS at the forefront of the transport industry and position its global network and people to capitalise on emerging trends that will carry the company well into the future.”

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

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