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After 46 years at UPS, CEO David Abney is stepping down. His replacement, UPS board member Carol Tomé, has the whole package.
The details: Tomé’s heading out of retirement and into the fire. The top spot at UPS will be her first full-time role since ending her 18-year stint as Home Depot’s CFO last year.
- Tomé is largely credited with repairing Home Depot after the 2008 financial crisis—an experience that’ll come in handy as the U.S. heads toward another recession.
The e-comm angle: In the 2019 peak season, UPS delivered over 32 million packages per day. That was made possible through two Abney initiatives: 1) increased investments in UPS’s logistics network and 2) a lucrative partnership with Amazon. Buddying up with Bezos accounted for 11.6% of UPS’s revenue last year.
But Tomé may switch gears. Amazon is pouring money into its own logistics network, reducing an important rev stream for UPS. So Tomé will likely work to speed up UPS’s delivery systems to keep pace with growing e-comm demand.
+ While we’re here: Amazon’s VP of delivery experience is reportedly leaving the company for a gig at SoFi.