UPS will have new leaders come Sept. 1, 2014.
According to a press release, the company's current chief operating officer David Abney will move to CEO. Board chairman Scott Davis will retire, and becomes non-executive chairman.
A member of the company's board of directors said Abney is the right man for the job.
"The UPS Board of Directors congratulates David in this new role," Duane Ackerman said 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."
Davis stated Abney's wealth of experience helped the company through tough times.
"David possesses tremendous depth of understanding of the rapidly evolving transportation and logistics markets," Davis said in a statement. "His capability to anticipate global trends, identify risks and guide the company and our clients to capitalize on opportunities has proven invaluable. We have navigated through challenging economic recovery periods during my tenure as CEO.
Davis also commended Abney's loyalty to the company.
"I have appreciated his dedication to UPS and support to me and I am confident that David will provide the decisive leadership needed to move UPS to greater accomplishments in the future," he said.
Abney said he looks forward to the new challenge with a company he has always worked for.
"I am deeply honored to be selected by the Board to serve as CEO," Abney said in a statement. "The company has provided me tremendous opportunity, amazing career experiences and rewarding professional development. I believe it is my duty to create an environment where talented UPS people can excel by helping our customers to accomplish their goals. Ultimately, I believe that is how, together, we will build on the UPS legacy of success."
