UPS announced Carol Tomé will take over as chief executive officer this June, with current Chairman and CEO David Abney becoming become executive chairman of the board. Abney plans to retire from the board at the end of September and remain as a special consultant through the end of 2020.

Tomé is the former executive vice president and chief financial officer of The Home Depot, bringing a supplier's perspective to the role.

William Johnson, UPS lead independent director, will assume the role of non-executive chairman at the end of September as well, after Abney retires with 46 years of UPS service under his belt.

“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,” said Johnson. “We congratulate David on a truly exceptional career at UPS. He has undertaken bold actions to place UPS at the forefront of the transportation industry and position its global network and people to capitalize on emerging trends that will carry the company well into the future.”

Abney was appointed CEO in 2014 and as chairman in 2016. 

“UPS has been one of my life’s passions, and through UPS I have been able to live the American dream,” said Abney. “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.”

Tomé becomes the 12th CEO in the 113-year history of UPS. She has been a member of the UPS board of directors since 2003.

“I look forward to working with and further developing the talented management team and the company’s 495,000 employees to deliver for our customers and shareowners,” Tomé said. “David has led a remarkable transformation at UPS and I plan to build on his success.”