United Parcel Service Inc. (UPS) promoted Chief Operating Officer David Abney to chief executive officer as the world’s largest package-delivery company reshapes U.S. operations after a surprise surge in online Christmas shopping.
CEO Scott Davis, 62, will retire effective Sept. 1 and become non-executive chairman as Abney, 58, assumes his new role, Atlanta-based UPS said today. The new CEO began his 40-year UPS career as a part-time package loader.
Abney will take over at a crucial time, as UPS heads toward the height of the holiday e-commerce rush that overwhelmed the company with last-minute shipments in 2013. He led the team that reviewed UPS’s response, which spawned a $100 million, multiyear push to expand some parcel facilities and accelerate use of new technology to make delivery routes more efficient.