Brian Newman is to be UPS new Chief Financial Officer (CFO), after current CFO Richard Peretz retires next month.

Newman ism currently Executive Vice President, Finance and Operations for PepsiCo in Latin America. On his appointment Newman will be appointed to the UPS Management Committee, the top leadership team of the company. Peretz is to work with him until December to ensure a smooth transition period.

The new UPS CFO has been at PepsiCo for more than 26 years, holding increasingly senior positions in the finance, corporate strategy and information sectors within the firm. In addition He has worked in Asia, Europe, Russia and the US. He started his career in investment banking, which has enabled him to have responsibility for all finance and operations activity across the Latin America region.

“I am very pleased to welcome Brian to UPS’s senior management team,” said David Abney, UPS Chairman and CEO. “Brian’s deep finance knowledge and broad cross-functional experience will be a great asset as we continue our Transformation.  He will contribute to our drive for improved growth and operating performance, and he will support our strategies focused on the long term success of the company.”Richard Peretz was appointed UPS CFO in 2015 and served in numerous roles throughout his 38 year career with UPS.

“On behalf of the company and the entire Board of Directors, I thank Richard for his commitment and substantial contributions to UPS,” said Abney. “Richard’s leadership and guidance helped the company achieve strong financial and operational performance, and have well positioned the company for the future. I am pleased that Richard will help facilitate a smooth leadership transition.”

“I am proud to have been part of such a great company and to have participated in UPS’s extraordinary growth during my years here,” said Peretz. “I am confident in the management team and appreciative of all the opportunities I have been given throughout my career at UPS.”