UPS Promotes COO David Abney As Next CEO

UPS earningsSee page for author [Public domain], via Wikimedia Commons

United Parcel Service, Inc. (NYSE:UPS), the largest package delivery company worldwide, promoted its current chief operating officer David Abney to become its next CEO effective September 1. He was also appointed as a member of the board of directors of the company.

A UPS veteran

Abney is a veteran in the package delivery company. He assumed a number of different operational positions until he reached his current position during his 40 years tenure. Prior to his role as COO, he served as president of UPS International.

According to United Parcel Service, Inc. (NYSE:UPS), as COO Abney was responsible in overseeing its engineering, logistics, sustainability, leading a significant investment in alternative fleets and implementing programs to expand its fleet volume. Abney managed the UPS transportation network serving customers around the world.

In a statement, Abney said, “I am deeply honored to be selected by the Board to serve as CEO. The company has provided me tremendous opportunity, amazing career experiences and rewarding professional development.  I believe it is my duty to create an environment where talented UPS people can excel by helping our customers to accomplish their goals.”

Current CEO Davis retires

Scott Davis the current CEO of United Parcel Service, Inc. (NYSE:UPS) will retire from his position, but will assume the role of non-executive chairman. Davis is a UPS veteran, having served the company for 29 years since 1986. He assumed increasing positions in the finance and accounting until he became CFO in 2001. He became chairman and CEO of UPS in 2008.

Commenting on the appointment of Abney as CEO, Davis said his successor “possesses tremendous depth of understanding of the rapidly evolving transportation and logistics markets.”  He added that Abney has the ability to anticipate global trends, identify risks and guide the company and its clients to capitalize on opportunities.

“I have appreciated his dedication to UPS and support to me and I am confident that David will provide the decisive leadership needed to move UPS to greater accomplishments in the future. We have navigated through challenging economic recovery periods during my tenure as CEO,” said Davis.

During his tenure as chairman and CEO of United Parcel Service, Inc. (NYSE:UPS), Davis skillfully led the company through the one of the most turbulent economic periods in history while executing growth strategies in emerging markets and specialized segments, said Duane Ackerman, a member of the board.

For exclusive info on hedge funds and the latest news from value investing world at only a few dollars a month check out ValueWalk Premium right here.

Multiple people interested? Check out our new corporate plan right here (We are currently offering a major discount)

About the Author

Marie Cabural
Marie received her Bachelors Degree in Mass Communication from New Era University. She is a former news writer and program producer for Nation Broadcasting Corporation (NBC-DZAR 1026), a nationwide AM radio station. She was also involved in events management. Marie was also a former Young Ambassador of Goodwill during the 26th Ship for Southeast Asian Youth Program (SSEAYP). She loves to read, travel and take photographs. She considers gardening a therapy.

Be the first to comment on "UPS Promotes COO David Abney As Next CEO"

Leave a comment