ATLANTA- The UPS (NYSE:UPS) Board of Directors announced that Chairman and CEO Mike Eskew will step down at the end of the year and will be replaced by Scott Davis, who is currently the company's vice chairman and chief financial officer.
"Over the past several years, Scott has worked closely with Mike Eskew as an architect of the UPS strategy, helping the company expand through acquisitions and investments in new products and technology," said Victor Pelson, a member of the UPS Board of Directors and chairman of its Nominating and Corporate Governance committees. "He also has an intense focus on execution and growth and has helped position the company to continue delivering on its remarkable record of success."
A native of
Under Mike Eskew's leadership, UPS has flourished. Eskew assumed the role of chairman and CEO on
Known as an innovator and strategist, Eskew has overseen the design of increasingly sophisticated solutions for UPS customers by synchronizing the movement of goods, information and funds. These expanded capabilities include multi-modal transportation services, sophisticated technologies, international trade management, supply chain consulting and financial services.
UPS also has seen unprecedented growth since Eskew assumed the helm. From 2002 through 2006, UPS revenues grew by nearly 57 percent to $47.5 billion and net income rose by more than 75 percent. More impressively, UPS saw its international package revenues more than double to $9 billion and its supply chain and freight revenues nearly quadruple to $8 billion at the end of 2006.
"Mike Eskew has helped transform one of
The company also announced several other changes in senior leadership. Replacing
Kuehn, 53, is a 30-year company veteran. He has held a wide variety of positions in operations, engineering, finance and marketing. Kuehn has led the strategic cost department, responsible for profit and loss measurement, customer pricing systems and cost analysis. He later held the position of vice president of business information analysis, where he oversaw market research, competitive analysis and data mining.
Prior to his current position, Kuehn served as UPS's first vice president of Investor Relations after playing an instrumental role in the company's initial public offering of stock in 1999.
Gershenhorn, 49, began his UPS career in 1979. He has held various
As a member of the company's International Marketing department in 1993, he helped launch new international services during a period of rapid global growth for UPS. Subsequent assignments took him to Europe and then to Canada, where as the country's vice president of marketing and later as operations district manager he helped restructure UPS Canada's operations and services, resulting in significant increases in revenues and profit.
Gershenhorn also has served in several other significant leadership positions within the company, including president of UPS Canada, president of UPS Supply Chain Solutions (SCS) Global Transportation and Shared Services and president of UPS SCS operations in
Brutto, 51, joined UPS in 1975 and is currently responsible for the company's global brokerage services and network management, helping to coordinate UPS's extensive air, ocean and ground freight operations.
During the past 32 years, Brutto has held several senior management positions in operations, finance, marketing and business development for both small package and supply chain services. Earlier in his career he played a key role on the company's Acquisitions and Financial Integration team, where he was responsible for establishing UPS operations in 35 countries across
UPS, which celebrates its 100th anniversary in 2007, is the world's largest package delivery company and a global leader in supply chain services, offering an extensive range of options for synchronizing the movement of goods, information and funds. Headquartered in