UPS has appointed David Abney as CEO. He replaces Scott Davis, who will retire later this year. Currently chief operating officer, Abney will take up his new position on 1 September. He started his career at UPS in 1974 as a part-time package loader and has since held numerous positions with the firm, including president of UPS international. Davis will retire from his current role as chairman and CEO after seven years. He will remain as a non-executive chairman of […]
UPS’s UK business recorded “modest growth” last year in both turnover and pre-tax profit, with revenue rises largely driven by its European and international businesses.
FedEx said it “remains confident” about its proposed takeover of TNT Express despite the European Commission launching what it termed an “in-depth investigation” into the planned acquisition.
The European Commission’s decision to prevent UPS from acquiring TNT Express “risks reducing competition, not increasing it”, an analyst at Transport Intelligence said. UPS has now pulled out of its multi-billion Euro plans to take over TNT Express, which the logistics analyst believes highlights the scale of the challenges the US parcel carrier faced in regard to meeting the regulatory requirements. Transport Intelligence head of consultancy Joel Ray said: “Their decision making process looks flawed, caused by a fundamental lack of […]