UPS (ups) has appointed David Abney as its new CEO, the Atlanta-based delivery company announced in a release Friday. He is replacing Scott Davis, who had served as chief executive since 2008 and will now become the non-executive chairman for the company.
Abney has been with UPS since 1974, when he started as a part-time parcel loader. He was most recently the company's COO. The official handover of power will be on Sept. 1.
"The UPS Board of Directors congratulates David in this new role," said Duane Ackerman, a member of the UPS Board of Directors and chairman of the Nominating and Corporate Governance committee, in a statement. "UPS has exceptional depth of management and has historically elevated senior internal leaders to the CEO role. After thorough consideration of candidates, the Board believes David embodies the experience, vision and leadership skills necessary to lead UPS."
This company's stock has been up lately, closing Thursday just a few dollars short of its 52-week high.