American package delivery firm, UPS, has announced top management changes naming Carol Tome as new Chief Executive Officer (CEO) and current CEO David Abney, to become Executive Chairman of the Board. 

In a statement, UPS said Tomé's appointment is effective June 1, while Abney, the current Chairman and Chief Executive Officer, will remain in his role until June 1 when he will become Executive Chairman of the Board.

He will then retire from the UPS Board on September 30 and will remain as a special consultant through the end of 2020 to ensure a smooth transition and successful peak season.

On September 30, William Johnson, UPS Lead Independent Director, will assume the role of Non-Executive Chairman.

Meanwhile, Abney is retiring after 46 years of UPS service.

“After a rigorous selection process involving both internal and external candidates, Carol was the clear choice,” said Johnson, who also serves as Chair of the UPS Nominating and Corporate Governance Committee and is a member of the Executive 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,” Johnson added, noting that Carol 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 expressed confidence in the UPS management team and their capabilities to execute our strategies in the future. 

“UPS has been one of my life’s passions and through UPS I have been able to live the American dream ... this is the right time for me to pass the baton. I am extremely pleased for Carol 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,” Abney said.

Tomé will become the 12th CEO 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 for 18 years - involved in corporate strategy, finance and business development.