Davis succeeds Eskew as UPS chairman and CEO

Mike Eskew will step down as chairman and CEO of UPS at the end of the year, to be replaced by Scott Davis, the company's current vice chairman and CFO.

UPS said Eskew will retire from his 3-decade long career with UPS, of which he served as chairman and CEO for six years.

Davis, 55, joined UPS in 1986 when it acquired the technology company II Morrow where he was CEO.

"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.

Replacing Davis as the company's CFO will be Kurt Kuehn, who is currently senior vice president of global sales and marketing. Kuehn will be replaced by Alan Gershenhorn, president of UPS International.

UPS, which is celebrating its 100^th anniversary this year, has seen revenues grow by nearly 57% to US$47.5 billion from the 2002-2006. International package revenues more than doubled to S$9 billion during the period, and its supply chain and freight revenues nearly quadrupled to S$8 billion at the end of 2006.