UPS names former Home Depot executive Carol Tomé as CEO

(Reuters) – United Parcel Service Inc on Thursday appointed former Home Depot executive Carol Tom as chief executive officer, effective June 1.

Tom retired last year as chief financial officer of Home Depot and was with the No.1 U.S. home improvement retailer for 24 years.

She succeeds Chairman and Chief Executive Officer David Abney, who takes on the executive chairman role before retiring from the UPS board on Sept. 30.

She has been on the United Parcel Service board since 2003.

Abney, who started his career at UPS as a part-time package loader in 1974, was named chief executive of the Atlanta-based company in 2014 and chairman in 2016.

(Reporting by Rachit Vats and Aishwarya Venugopal in Bengaluru; Editing by Shinjini Ganguli)