UPS has 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.Beystehner, UPS’s chief operating officer since 2004 and one of three active employees on thecompany’s Board of Directors, will step down from both positions on Jan. 2, 2007. A successor toBeystehner 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 forit,” said Mike Eskew, UPS’s chairman and CEO. “As a senior manager, in positions ranging fromsenior vice president of worldwide sales and marketing to COO, John has helped lead UPS through aperiod of unprecedented change and innovation in our industry. His leadership has been invaluablein many areas, including our corporate rebranding and the acquisition and integration of a varietyof companies.”
Chief Financial Officer Scott Davis currently is responsible for all activities related toaccounting, auditing, finance, financial planning, taxes and treasury. He was elected to the UPSBoard of Directors in February. Davis, 55, joined the company in 1986 when UPS acquired II Morrow,an Oregon technology firm that Davis served as CFO and then CEO. In 2000 he was named vicepresident of finance and then joined the UPS Management Committee when he assumed his currentposition in 2001.
“Scott Davis has been widely recognized as one of the most effective corporate financialofficers in America,” Eskew continued. “The sound financial management provided by Scott hasallowed UPS to expand into new markets around the world, ensuring the future success of thecompany.”
