The Board of Directors of UPS announced it has named Carol Tomé as Chief Executive Officer, effective June 1, 2020. David Abney, the current Chairman and Chief Executive Officer, will remain in his role until June 1, 2020 when he will become Executive Chairman of the Board. He will retire from the UPS Board on September 30, 2020.

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, 2020, William Johnson, UPS Lead Independent Director, will assume the role of Non-Executive Chairman. Carol 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. Her responsibilities included corporate strategy, finance and business development.

During her 18-year tenure as CFO, she is credited with helping to deliver a 450% increase in The Home Depot's shareholder value.