Original article posted by The Street
Shipping giant United Parcel Service (UPS) named a director, Carol Tome, as its new CEO, effective June 1.
Tome has sat on the UPS board since 2003 and serves as chair of the audit committee. She was formerly chief financial officer for Home Depot (HD) - Get Report.
UPS's current chairman and CEO, David Abney, on June 1 will become executive chairman. UPS said he'll retire from the board Sept. 30. He's been with the Atlanta company for 46 years.
The company’s lead independent director, William Johnson, on Sept. 30 will take the role of non-executive chairman.
“After a rigorous selection process involving both internal and external candidates, Carol was the clear choice,” Johnson, chairman of the UPS nominating and corporate governance committee, said in a statement.