Long-Time Employee David Abney to Become New UPS CEO

by Christopher Freeburn | June 6, 2014 11:50 am

Long-Time Employee David Abney to Become New UPS CEO

On Friday, shipping giant United Parcel Service (UPS[1]) tapped an insider[2] to become the next UPS CEO.

UPS 185 Long Time Employee David Abney to Become New UPS CEO[3]UPS Chief Operating Officer David Abney will replace current UPS CEO Scott Davis on Sept. 1. Davis will continue on as UPS chairman after the transition, the Wall Street Journal notes.

It is normal practice for UPS to select a chief executive from within its own ranks. Davis had severed as UPS CEO since 2008. Most UPS CEOs typically serve between five and seven years.

Prior to becoming COO, Abney was president of UPS International, among other roles at the shipping company. Abney has been with the company for 29 years.

UPS stock dipped slightly in Friday morning trading. On Thursday, UPS stock closed at $103.62 per share.

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Endnotes:
  1. UPS: /stock-quotes/UPS-stock-quote/
  2. tapped an insider: http://online.wsj.com/articles/ups-names-operating-chief-abney-as-ceo-1402054165
  3. [Image]: http://investorplace.com/wp-content/uploads/2014/01/UPS-185.jpg
  4. CEO Fires 15 Over GM Ignition Switch Recall Mess: http://investorplace.com/2014/06/ceo-fires-15-gm-ignition-switch-recall-mess/
  5. Cha-Ching! American Realty $94M CEO Pay Plan Raises Eyebrows: http://investorplace.com/2014/05/cha-ching-american-realty-94m-ceo-pay-plan-raises-eyebrows/
  6. Splunk CEO Sells Nearly $1M in SPLK Stock: http://investorplace.com/2014/05/splunk-splk-stock/
  7. BLOX: InfoBlox Stock Plummets on Forecast, CEO Resignation: http://investorplace.com/2014/05/blox-infoblox-stock-plummets-forecast-ceo-resignation/
  8. 2014 CEO Pay Study: 100 Highest-Paid CEOs: http://investorplace.com/2014/05/2014-ceo-pay-study-100-highest-paid-ceos/

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