UPS is bringing in an external executive, PepsiCo’s Brian Newman, as its new Chief Financial Officer to replace Richard Peretz who is retiring at the end of this year.
Newman, 50, is currently Executive Vice President, Finance and Operations, Latin America for PepsiCo. He will take up the UPS CFO job as of September 16, 2019, and will join the UPS Management Committee, the senior-most leadership team responsible for management of the company.
Peretz, 57, will remain with the company through December 2019 to assist Newman to ensure a smooth transition period.
UPS described Newman as a proven senior corporate leader with extensive finance, operations, corporate strategy and information technology experience. He served in positions of increasing responsibility at PepsiCo over 26 years and has worked in Asia, Europe, Russia and the U.S. in various corporate, regional and sector assignments. He began his career in investment banking prior to joining PepsiCo. In his current role, Newman has leadership responsibility for all finance and operations activity across the Latin America region.
“I am very pleased to welcome Brian to UPS’s senior management team,” said David Abney, UPS Chairman and CEO. “Brian’s deep finance knowledge and broad cross-functional experience will be a great asset as we continue our Transformation. He will contribute to our drive for improved growth and operating performance, and he will support our strategies focused on the long-term success of the company.”
Richard Peretz, who joined UPS in 1981, was appointed CFO in 2015 after holding a series of finance leadership positions of increasing responsibility during his 38-year career with the company. He was a key member of the team responsible for UPS’s IPO in 1999, became CFO of the International division in 2003, was promoted to Corporate Finance Vice President in 2007, and later became Corporate Controller and Corporate Treasurer.
“On behalf of the company and the entire Board of Directors, I thank Richard for his commitment and substantial contributions to UPS,” said Abney. “Richard’s leadership and guidance helped the company achieve strong financial and operational performance, and have well positioned the company for the future. I am pleased that Richard will help facilitate a smooth leadership transition.”
Peretz commented: “I am proud to have been part of such a great company and to have participated in UPS’s extraordinary growth during my years here. I am confident in the management team and appreciative of all the opportunities I have been given throughout my career at UPS.”
