3/12, 1:03 PM (Source: TeleTrader)
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UPS names Carol Tome CEO

United Parcel Service (UPS) announced on Thursday that Carol Tome has been hired as the company's 12th Chief Executive Officer (CEO) in its 113-year history.

The appointment will become effective on June 1. Tome was previously Executive Vice President and Chief Financial Officer of The Home Depot Inc.

Current Chairman and CEO David Abney will become the Executive Chairman of the Board following the date and will retire from the board on September 30. He is scheduled to fully retire at the end of 2020 after spending 46 years with the company. UPS Lead Independent Director William Johnson will be appointed Non-Executive Chairman on September 30.

Breaking the News / MS