Davis to replace retiring Eskew at UPS

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The UPS board of directors announced Oct. 15 that Scott Davis will become chairman and chief executive officer at the beginning of 2008, replacing Mike Eskew, who will retire at yearend. Davis, 55, currently is the company’s vice chairman and chief financial officer.

Davis joined UPS in 1986 when it acquired the technology company II Morrow, where Davis was CEO. He served in positions of increasing responsibility in finance and accounting before assuming the role of CFO and joining the UPS Management Committee in 2001. In 2006, Davis was named vice chairman and was elected to the UPS Board of Directors.

“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 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.”

Eskew has been chairman and CEO since 2002. 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.

Replacing Davis as the company’s CFO will be Kurt Kuehn, who is currently senior vice president of global sales and marketing and a member of the UPS Management Committee. Replacing Kuehn will be Alan Gershenhorn, who is currently president of UPS International and also serves on the UPS Management Committee. Dan Brutto, who is currently the president of global freight forwarding for UPS, is being promoted to the position of president of UPS International and will also join the company’s Management Committee.