ATLANTA, April 28, 2015 (GLOBE NEWSWIRE) -- UPS
® (NYSE:UPS)
today announced Richard Peretz, 53 has been named Chief Financial
Officer, replacing Kurt Kuehn, 60, who has elected to retire after
38 years with the company. Kuehn will continue his existing
duties while ensuring a smooth transition of responsibilities to
Peretz. The appointment of Peretz is effective July 1, 2015.
Peretz is currently UPS Corporate Controller and
Treasurer. He has served in several operational and corporate
leadership positions within the Finance staff since joining the
company in 1981. He will join UPS's Management Committee, a
group of the most senior executives responsible for day-to-day
management of the company.
"Richard brings to the CFO position deep functional experience
in corporate and international leadership assignments," said David
Abney, UPS Chief Executive Officer. "I am confident that he
will bring a unique perspective to his new role while at the same
time providing the stability in transition needed to continue our
progress on long-term strategies."
Peretz joined UPS in 1981 as a customer service associate while
attending the University of Texas at San Antonio, where he received
a degree in Accounting. He held a series of leadership
positions including district controller to support UPS's expansion
into The Americas, and was a key member of the team responsible for
UPS's IPO. Peretz was named International Chief Financial
Officer in 2003, and promoted to Corporate Finance Vice President
in 2007 where he oversaw a broad range of finance staff areas. He
was named Corporate Controller in 2013, and expanded his role to
included Corporate Treasurer in 2014. (see Peretz's biography
attached)
Kurt Kuehn has been UPS CFO for eight years. He was UPS's
first Investor Relations Vice-President, leading the company's
initial public offering in 1999 - the largest IPO in the 20th
century.
"Kurt has provided insightful judgment and strong
leadership, based on his extensive career experience and broad
business perspective," said Abney. "He has helped UPS to take
advantage of industry trends and prepare for the future. I thank
Kurt for his unwavering commitment to UPS and appreciate his
contributions to many of the company's accomplishments."
Prior to his appointment as CFO in 2008, he was Senior Vice
President Worldwide Sales and Marketing, leading the sales
organization to improve the customer service around the globe. Over
the years, the company dramatically expanded internationally and
absorbed more than 40 mergers and acquisitions to expand
capabilities broadly across the range of supply chain services.
Since he joined UPS as a driver in 1977, his UPS career has
included leadership roles in sales and marketing, engineering,
operations, and strategic cost planning. (see Kuehn's biography
attached)
About UPS
UPS (NYSE: UPS) is a global leader in logistics, offering a
broad range of solutions including transporting packages and
freight; facilitating international trade, and deploying advanced
technology to more efficiently manage the world of business.
Headquartered in Atlanta, UPS serves more than 220 countries and
territories worldwide. The company can be found on the web at
ups.com® and its corporate blog can be
found at longitudes.ups.com. To get UPS news direct, visit
pressroom.ups.com/RSS.
# # #
Richard Peretz's Biography
Richard Peretz, 53, UPS's newly appointed chief financial
officer, effective July 1, 2015, will be responsible for all
activities related to accounting, finance, financial planning,
taxes and treasury, as well as audit and compliance. He will also
become the top liaison to the investor, finance and analyst
community. Richard will become a member of the UPS Management
Committee, a group of the company's most senior executives who are
responsible for the day-to-day management of the company.
Today he is Corporate Controller and Treasurer responsible for
financial reports & plans, tax, general accounting, treasury,
investments and mergers and acquisitions across all UPS business
units. Richard joined UPS as a Customer Service administrative
assistant in 1981 while attending college. His UPS career has
included diverse roles in financial operating assignments and
corporate functional assignments. In 1989, he was promoted to
district controller in the Americas Region as part of International
segment expansion. He joined the Corporate Office in 1992. He
returned to US operations as the Region finance head for the
Southeast in 1997. He was promoted to vice president of Product
Cost/Strategic Cost in 1999 and was a key member of the team
responsible for UPS's IPO.
Throughout his career Richard has served in a variety of
leadership assignments, including several UPS transformation
programs involving the consolidation of Accounting in the US,
realignment of the finance function in corporate and company-wide
profitability improvement programs.
In 2003, Richard became the International Chief Financial
Officer where he was instrumental in global business transformation
as UPS acquired companies in Asia Pacific and Europe. In 2008, he
was named to head the corporate Finance and Treasury Groups. In
2013, he became Corporate Controller, expanding his role to include
Corporate Treasurer in 2014.
In addition to his professional responsibilities, Richard serves
on the board of the American Red Cross Metropolitan Atlanta
Chapter. A native of San Antonio, Texas, he holds a Bachelor's
degree in Accounting from University of Texas San Antonio and a
Masters in Business Administration from the Goizueta Business
School at Emory University.
# # #
Kurt Kuehn's Biography
Kurt Kuehn, 60, UPS's chief financial officer, has been on the
front lines of UPS's transformation from a private U.S.-focused
small package delivery company to one of the world's largest
publicly-traded logistics companies with more than 425,000
employees.
Today, he is responsible for all activities related to
accounting, finance, financial planning, taxes and treasury. He
also is the liaison to the investor, finance and analyst
community.
Kurt is a member of the UPS Management Committee, a group of the
company's most senior executives who are responsible for the
day-to-day management of the company.
Prior to his appointment as CFO in 2008, he was Senior Vice
President Worldwide Sales and Marketing, leading the revamping of
the sales organization to improve the customer experience around
the globe. Kurt was also UPS's first Vice President of Investor
Relations, taking the company public in 1999 - the largest IPO in
the 20th century. Over the years, the company dramatically expanded
internationally and absorbed more than 40 mergers and acquisitions
which expanded UPS's small package delivery capability to include
freight forwarding, freight transportation, specialty healthcare
logistics capabilities, and supply chain management. Since he
joined UPS as a driver in 1977, his UPS career has included
leadership roles in sales and marketing, engineering, operations,
and strategic cost planning.
Kurt also was one of the early internal supporters of UPS's
sustainability program, working on the very first sustainability
report in 2002. He remains a member of the Corporate Sustainability
Steering Committee. He is on the board of NCR.
In addition to his corporate responsibilities, Kurt is a member
of CNBC's Global CFO Council, a team of top CFOs who share their
expertise on the economy and macro policy issues. He also
serves on the board of directors of the Council of Independent
Colleges, the Metro Atlanta Chamber of Commerce and the Woodruff
Arts Center.
A native of South Bend, Ind., Kurt attended Yale University and
received a master's degree in business administration from the
University of Miami. He also is a graduate of the Advanced
Management Program of the Wharton School of Business.
# # #
A photo accompanying this release is available at:
http://www.globenewswire.com/newsroom/prs/?pkgid=32445
CONTACT: Andy McGowan
(404) 828-4663
amgowan@ups.com
