UPS announced Richard Peretz, the company's Chief Financial Officer, plans to retire. Brian Newman, currently Executive Vice President, Finance and Operations, Latin America for PepsiCo, is appointed UPS Chief Financial Officer, effective September 16, 2019. Newman will join the UPS Management Committee, the senior-most leadership team responsible for management of the company.

Peretz will remain with the company through December 2019 to assist Newman to ensure a smooth transition period. Newman is a proven senior corporate leader with extensive finance, operations, corporate strategy and information technology experience. He served in positions of increasing responsibility at PepsiCo over 26 years and has worked in Asia, Europe, Russia and the U.S. in various corporate, regional and sector assignments.

He began his career in investment banking prior to joining PepsiCo. In his current role, Newman has leadership responsibility for all finance and operations activity across the Latin America region.