On March 12, 2020, UPS announced it has appointed Carol Tomé, a retired Executive Vice President and Chief Financial Officer of The Home Depot, as CEO, effective June 1, 2020. Tomé will be the first outsider to serve as UPS CEO, the first woman to be CEO and its 12th CEO. She has served as a member of the company’s board of directors since 2003 and also serves as chairperson of the audit committee. Current CEO David Abney will continue in his position until Tomé takes over, following which he will become Executive Chairman of the Board until September 30, when he will retire but remain associated with the company as a special consultant until the end of 2020. “Carol is one of the most respected and talented leaders in corporate America and has a proven track record of driving growth at a global organization, maximizing shareholder value, developing talent and successfully executing against strategic priorities,” said William Johnson, Lead Independent Director of UPS and Chair of the UPS Nominating and Corporate Governance Committee. “I look forward to working with and further developing the talented management team and the company’s 495,000 employees to deliver for our customers and shareowners,” said Tomé in a UPS press statement. Tomé has served as a member of the company’s Board of Directors since 2003, and during her 18 years as Home Depot CFO from 2001 to 2019 was instrumental in delivering a 450% increase in shareholder value. She retired from Home Depot in August 2019 after 24 years with the company.