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Parcel delivery giant UPS has appointed Richard Peretz as its new Chief Financial Officer. The new appointment sees the replacement of Kurt Kuehn, who is retiring from his position after 38 years with the company. Kuehn is expected to continue within his role until July 1st when Peretz will resume the responsibility.

David Abney, UPS Chief Executive Officer, has spoken of the appointment: “Richard brings to the CFO position deep functional experience in corporate and international leadership assignments. I am confident that he will bring a unique perspective to his new role while at the same time providing the stability in transition needed to continue our progress on long-term strategies.”

Kuehn has been UPS’s CFO for the past eight years. Abney describes Kuehn has having “insightful judgement and strong leadership” skills. He also added: “He [Kuehn] has helped UPS to take advantage of industry trends and prepare for the future. I thank Kurt for his unwavering commitment to UPS and appreciate his contributions to many of the company’s accomplishments.”

Newly appointed Peretz has previously held a number of leadership positions, some of which include district controller to support UPS’s expansion into the Americas.

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