UPS announced today that Richard Peretz will succeed Kurt Kuehn who will retire as CFO at the end of June after 38 years with the company.
Kuehn, 60, will continue his existing duties while ensuring a smooth transition of responsibilities to Peretz. The 53-year-old will take up the CFO post as of 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.
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.
"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."
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. 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. His UPS career also included leadership roles in sales and marketing, engineering, operations, and strategic cost planning.
"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."
