Lifetime of Achievement: Carol B. Tomé
In her own words, Carol B. Tomé is well accustomed to breaking “lots of glass” – a turn of phrase she used following her appointment as CEO at UPS back in 2020.
She was, of course, talking about glass ceilings, having become UPS’s first outsider CEO and first female CEO, not to mention the first female CEO the logistics and transportation industry had ever seen.
This influential trailblazer – who placed No.7 in Supply Chain Digital’s latest Top 100 Women supplement – continues to drive meaningful change and innovation within the supply chain space and remains dedicated to making a positive difference to both employees’ and customers’ lives.
A natural-born leader
Carol B. Tomé began her long and fruitful professional career as a Commercial Lender with the United Bank of Denver, later absorbed by financial giant Wells Fargo.
She then enjoyed stints as Director of Banking and VP and Treasurer at Johns Mansville Corporation and Riverwood International Corporation.
In 1995, Carol joined one of the world’s largest retailers in the form of The Home Depot, where she remained for almost a quarter of a century. After initially impressing as VP and Treasurer, she soon stepped up to become SVP Finance and Treasurer before taking the reins as Executive Vice President and Chief Financial Officer from 2001.
Over the ensuing 18 years, Carol worked under every CEO in the company’s history, including Co-founders Bernie Marcus and Arthur Blank, whom she credits to this day as big inspirations.
In 2019, she took the seemingly straightforward decision to retire after 24 years at The Home Depot.
“I was at peace,” Carol said in a 2021 interview with Atlanta-based publication SaportaReport. “I’m like, this is going to be great. I’m going to do corporate boards, my foundation, my family office, the farm and spend more time with my family and friends.”
However, retirement is not for everyone and Carol was the first to admit it. She admitted being “seriously bored” but saw it as a calling to return to work.
In March 2020, she was announced as the 12th CEO in UPS’ history – something of a dream role for this natural-born leader.
Commenting on her appointment, Arthur Blank called Carol a “thoughtful leader with uncommon financial acumen and a keen understanding of how important a thriving culture is to the success of a large business.”
He added: “I know she’ll be an outstanding leader for this great company, just as she was for so many years at The Home Depot.”
Embracing the challenges
It’s fair to say Carol probably could have chosen a better time to become CEO at a multinational giant, but the manner in which she has handled the challenges thrown her way demonstrates her immense leadership pedigree.
Faced with the prospect of dealing with a global pandemic, she stood strong in the face of adversity and led UPS in assured fashion.
“I thought I’d be travelling the world meeting people, visiting our facilities, shaking hands and meeting customers,” she recalled during the previously mentioned interview. “We’ve got lots of challenges here, but they’re fun to work on. We’re making some really good progress.”
Adopting a strategy of “better not bigger”, Carol started her tenure at UPS as she meant to go on – by “shaking things up”.
From implementing review boards and divestitures, to prioritising same-day delivery, sustainability, DE&I, employee development and local philanthropic engagement, she has worked to cement UPS’s status as a customer-first, people-led, innovation-driven organisation.
Today, Carol is one of 52 female CEOs leading Fortune 500 firms and is committed to nurturing and inspiring the next generation.
Speaking on the How Leaders Lead with David Novak podcast earlier in 2024, she said: “For my executive leadership team I have defined development plans for each of them and we meet frequently to measure progress. Those are harder plans to put together than operating plans – it’s much easier to talk about the numbers.
“I spend most of my time on people development. Everyone gets motivated by different things and you’ve really got to understand that so you can invest in them and help them reach their highest potential.
“I believe leadership development is personal. If your boss takes a personal interest in you, then you’re going to grow differently.”
To read the full story in the magazine click HERE
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