UPS News John Beystehner to Retire as UPS's Chief Operating Officer
ATLANTA--(BUSINESS WIRE)--UPS (NYSE:UPS) today announced the retirement of John J. Beystehner, the
company’s chief operating officer, president
of UPS Airlines and a member of the UPS Board of Directors.
The company also announced the election of Chief Financial Officer Scott
Davis to the additional position of vice chairman, effective
immediately. Davis currently is responsible for all activities related
to accounting, auditing, finance, financial planning, taxes and
treasury. He was elected to the UPS Board of Directors in February.
Beystehner, UPS’s chief operating officer
since 2004 and one of three active employees on the company’s
Board of Directors, will step down from both positions on Jan. 2, 2007.
A successor to Beystehner as COO will be named at a later date.
“John Beystehner has dedicated his entire
36-year career to UPS and we all are the better for it,”
said Mike Eskew, UPS’s chairman and CEO. “As
a senior manager, in positions ranging from senior vice president of
worldwide sales and marketing to COO, John has helped lead UPS through a
period of unprecedented change and innovation in our industry. His
leadership has been invaluable in many areas, including our corporate
rebranding and the acquisition and integration of a variety of companies.
“Likewise, Scott Davis has been widely
recognized as one of the most effective corporate financial officers in
America,” Eskew continued. “The
sound financial management provided by Scott has allowed UPS to expand
into new markets around the world, ensuring the future success of the
company.”
Davis, 55, joined the company in 1986 when UPS acquired II Morrow, an
Oregon technology firm that Davis served as CFO and then CEO. Beginning
in 1991, Davis held positions of increasing responsibility as accounting
manager and treasury manager. In 2000 he was named vice president of
finance and then joined the UPS Management Committee when he assumed his
current position in 2001.
A native of Oregon, Davis earned a bachelor’s
degree in finance from Portland State University and after graduating,
spent several years with Arthur Anderson. Davis is a Certified Public
Accountant who serves as deputy chairman of the Board of the Federal
Reserve Bank of Atlanta. He also serves on the Board of Directors of
Honeywell International Inc. and is chairman of the Georgia Council on
Economic Education.
UPS 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 Atlanta, Ga., UPS serves more
than 200 countries and territories worldwide. UPS's stock trades on the
New York Stock Exchange (UPS) and the company can be found on the Web at
UPS.com. To get UPS news direct, visit pressroom.ups.com/RSS.
Except for historical information contained herein, the statements made
in this release constitute forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Such forward-looking statements,
including statements regarding the intent, belief or current
expectations of UPS and its management regarding the company's strategic
directions, prospects and future results, involve certain risks and
uncertainties. Certain factors may cause actual results to differ
materially from those contained in the forward-looking statements,
including economic and other conditions in the markets in which we
operate, governmental regulations, our competitive environment, strikes,
work stoppages and slowdowns, increases in aviation and motor fuel
prices, cyclical and seasonal fluctuations in our operating results, and
other risks discussed in the company's Form 10-K and other filings with
the Securities and Exchange Commission, which discussions are
incorporated herein by reference.
