Other Senior Management Moves Also Announced
ATLANTA, October 15 /CNW/ - The UPS (NYSE: UPS) Board of Directors today
announced that Chairman and CEO Mike Eskew will step down at the end of the
year and will be replaced by Scott Davis, who is currently the company's vice
chairman and chief financial officer.
Davis, 55, joined UPS in 1986 when it acquired the technology company II
Morrow, where he was CEO. Davis served in positions of increasing
responsibility in finance and accounting before assuming the role of CFO and
joining the UPS Management Committee in 2001. He was named vice chairman in
2006 and was elected to the UPS Board of Directors that same year.
"Over the past several years, Scott has worked closely with Mike Eskew as
an architect of the UPS strategy, helping the company expand through
acquisitions and investments in new products and technology," said Victor
Pelson, a member of the UPS Board of Directors and chairman of its Nominating
and Corporate Governance committees. "He also has an intense focus on
execution and growth and has helped position the company to continue
delivering on its remarkable record of success."
A native of Oregon, Davis also serves as deputy chairman of the board of
the Federal Reserve Bank of Atlanta and sits on the board of Honeywell
International, Inc. He is chairman of the Georgia Council on Economic
Under Mike Eskew's leadership, UPS has flourished. Eskew assumed the role
of chairman and CEO on Jan. 1, 2002, and under his direction UPS has expanded
its capabilities into new lines of business that complement the company's
global package delivery operations.
Known as an innovator and strategist, Eskew has overseen the design of
increasingly sophisticated solutions for UPS customers by synchronizing the
movement of goods, information and funds. These expanded capabilities include
multi-modal transportation services, sophisticated technologies, international
trade management, supply chain consulting and financial services.
UPS also has seen unprecedented growth since Eskew assumed the helm. From
2002 through 2006, UPS revenues grew by nearly 57 percent to $47.5 billion and
net income rose by more than 75 percent. More impressively, UPS saw its
international package revenues more than double to $9 billion and its supply
chain and freight revenues nearly quadruple to $8 billion at the end of 2006.
"Mike Eskew has helped transform one of America's most admired companies
into a global logistics organization that helps thousands of businesses and
individuals succeed every day," said Pelson. "And yet, I know that Mike would
prefer to be remembered as a shepherd of the strong and unique UPS culture and
for creating a positive environment in which 427,000 UPSers can thrive."
The company also announced several other changes in senior leadership.
Replacing Davis as the company's CFO will be Kurt Kuehn, who is currently
senior vice president of global sales and marketing and a member of the UPS
Management Committee. Replacing Kuehn will be Alan Gershenhorn, who is
currently president of UPS International and also serves on the UPS Management
Committee. Dan Brutto, who is currently the president of global freight
forwarding for UPS, is being promoted to the position of president of UPS
International and will also join the company's Management Committee.
Kuehn, 52, is a 30-year company veteran. He has held a wide variety of
positions in operations, engineering, finance and marketing. Kuehn has led the
strategic cost department, responsible for profit and loss measurement,
customer pricing systems and cost analysis. He later held the position of vice
president of business information analysis, where he oversaw market research,
competitive analysis and data mining.
Prior to his current position, Kuehn served as UPS's first vice president
of Investor Relations after playing an instrumental role in the company's
initial public offering of stock in 1999.
Gershenhorn, 49, began his UPS career in 1979. He has held various U.S.
and international positions of increasing responsibility in operations,
engineering, freight forwarding, logistics, brokerage, marketing, strategy and
As a member of the company's International Marketing department in 1993,
he helped launch new international services during a period of rapid global
growth for UPS. Subsequent assignments took him to Europe and then to Canada,
where as the country's vice president of marketing and later as operations
district manager he helped restructure UPS Canada's operations and services,
resulting in significant increases in revenues and profit.
Gershenhorn also has served in several other significant leadership
positions within the company, including president of UPS Canada, president of
UPS Supply Chain Solutions (SCS) Global Transportation and Shared Services and
president of UPS SCS operations in Europe, Asia, the Middle East and Africa.
Brutto, 51, joined UPS in 1975 and is currently responsible for the
company's global brokerage services and network management, helping to
coordinate UPS's extensive air, ocean and ground freight operations.
During the past 32 years, Brutto has held several senior management
positions in operations, finance, marketing and business development for both
small package and supply chain services. Earlier in his career he played a key
role on the company's Acquisitions and Financial Integration team, where he
was responsible for establishing UPS operations in 35 countries across Europe
and Asia including the United Kingdom, Spain, Italy, France, Germany, Hong
Kong, Singapore, Thailand and Malaysia.
UPS, which celebrates its 100th anniversary in 2007, is the world's
largest package delivery company and a global leader in supply chain services,
offering an extensive range of options for synchronizing the movement of
goods, information and funds. Headquartered in Atlanta, Ga., UPS serves more
than 200 countries and territories worldwide. UPS's stock trades on the New
York Stock Exchange (UPS) and the company can be found on the Web at UPS.com.
For further information:
For further information: UPS Ken Sternad, 404-828-6124