UPS's Chief Operation Officer David Abney got a promotion to CEO this week. As of September 1, he'll take over for current CEO Scott Davis, who has been CEO since 2008. Davis is retiring and will become the company's non-executive Chairman.
Abney started his tenure with UPS in 1974 as part-time package loader. Prior to stepping into the role of CEO, Abney was involved with the worldwide aspects and expansion of the company, holding several positions, including SVP of global transportation services and president of UPS International.
The company statement also noted that Abney's expertise dealt with sustainability, especially finding alternative fuel sources for their shipping vehicles. These past responsibilities could play a part in UPS's strategy moving forward.
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"Scott Davis has skillfully guided UPS through one of the most turbulent global economic periods in history while executing growth strategies in emerging markets and specialized business segments," UPS board member Duane Ackerman said in a statement.
Further emphasis on green shipping could be something to watch for once Abney gets started in the fall. The global business also continues to be a going concern for UPS, as they recently announced the opening of both an 82,000 square foot air hub in Taiwan and a new distribution center in China near the Beijing Capital International Airport.
The shift in CEOs was not really a shock to anyone familiar with the company's past protocols. UPS is known to change up CEOs every five to seven years.
"I think the timing is right, and the company is in great hands," Davis told The Wall Street Journal.