UPS today announced Richard Peretz, 53 has been named Chief Financial Officer, replacing Kurt Kuehn, 60, who has elected to retire after 38 years with the company. Kuehn will continue his existing duties while ensuring a smooth transition of responsibilities to Peretz. The appointment of Peretz is effective July 1, 2015.

Peretz is currently UPS Corporate Controller and Treasurer. He has served in several operational and corporate leadership positions within the Finance staff since joining the company in 1981. He will join UPS's Management Committee, a group of the most senior executives responsible for day-to-day management of the company.

"Richard brings to the CFO position deep functional experience in corporate and international leadership assignments," said David Abney, UPS Chief Executive Officer. "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."

Peretz joined UPS in 1981 as a customer service associate while attending the University of Texas at San Antonio, where he received a degree in Accounting. He held a series of leadership positions including district controller to support UPS's expansion into The Americas, and was a key member of the team responsible for UPS's IPO. Peretz was named International Chief Financial Officer in 2003, and promoted to Corporate Finance Vice President in 2007 where he oversaw a broad range of finance staff areas. He was named Corporate Controller in 2013, and expanded his role to included Corporate Treasurer in 2014.

Kurt Kuehn has been UPS CFO for eight years. He was UPS's first Investor Relations Vice-President, leading the company's initial public offering in 1999 - the largest IPO in the 20th century.

"Kurt has provided insightful judgment and strong leadership, based on his extensive career experience and broad business perspective," said Abney. "He 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."

Prior to his appointment as CFO in 2008, he was Senior Vice President Worldwide Sales and Marketing, leading the sales organization to improve the customer service around the globe. Over the years, the company dramatically expanded internationally and absorbed more than 40 mergers and acquisitions to expand capabilities broadly across the range of supply chain services. Since he joined UPS as a driver in 1977, his UPS career has included leadership roles in sales and marketing, engineering, operations, and strategic cost planning.