UPS Chief Executive Eskew Stepping Down

UPS Inc. said Monday Chairman and Chief Executive Officer Mike Eskew will step down at the end of the year and be replaced by Scott Davis, the company's vice chairman and chief financial officer.

Eskew, 58, has held his positions since 2002. His tenure was marked by UPS’ expansion in the logistics business, its entry into the less-than-truckload sector with the purchase of Overnite Corp. in 2005 and two contracts negotiated with the Teamsters union, including one settled just last week.

From 2002 through 2006, UPS’ revenue grew by nearly 57% to $47.5 billion and net income rose by more than 75%, the company said in a statement.

Davis, 55, joined UPS in 1986 when it acquired the technology company II Morrow, where he was CEO. He served in positions of in finance and accounting before assuming the role of CFO and joining the management committee in 2001.

He was named vice chairman in 2006 and was elected to the UPS Board of Directors that same year.

UPS is ranked No. 1 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.

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