Carol Tomé

Carol B. Tomé
Born	Carol Louise Buchenroth 8 1, 1957
Birthplace	Jackson, Wyoming, U.S.
Nationality	American
Occupation	Business executive
Known for	CEO of United Parcel Service (UPS)
Education	University of Wyoming (BA) University of Denver (MBA)
Spouse(s)	Ramon Tomé
Awards	Forbes Power Women list, Georgia Trustee (2024), Forbes 50 Over 50
Website	[https://about.ups.com/us/en/our-company/leadership/carol-b-tome.html Official site]

Carol B. Tomé (born Carol Louise Buchenroth; January 8, 1957) is an American business executive serving as the chief executive officer of United Parcel Service (UPS) since June 2020. Before assuming the top role at UPS, Tomé spent nearly a quarter century as the chief financial officer of The Home Depot, where she oversaw the company's financial operations from 1995 to 2019 and played a central role in its expansion into one of the world's largest home improvement retailers. She had served on the UPS board of directors since 2003, and her appointment as CEO in 2020 made her the first person from outside the company's ranks to lead UPS in its more than century-long history. Ranked number 26 on the Forbes 2025 Power Women list, Tomé is recognized as one of the most prominent women in American corporate leadership. As CEO, she has led UPS through significant operational and strategic shifts, including efforts to diversify the company's revenue streams beyond its largest customer, Amazon, and to focus on higher-margin segments of the logistics business.

Early Life

Carol Louise Buchenroth was born on January 8, 1957, in Jackson, Wyoming. She grew up in Wyoming, a state with a small population and a strong culture of self-reliance that she has cited as formative in her personal development. In interviews, Tomé has spoken about her upbringing in Jackson and the influence of her family on her work ethic and values.

Details about her parents and siblings are limited in published sources, though her birth name of Buchenroth indicates she later took the surname Tomé through marriage. Growing up in Wyoming's Teton County, she was raised in a community defined by its proximity to Grand Teton National Park and the outdoor economy of the region. The relatively rural setting of Jackson during the mid-twentieth century stood in contrast to the large corporate environments in which Tomé would later build her career.

Tomé has described her path to finance and business leadership as one that was shaped early by an interest in numbers and problem-solving. Her formative years in Wyoming provided her with a grounding that she would carry throughout her career in corporate America, eventually rising to lead two of the largest companies in the United States.

Education

Tomé attended the University of Wyoming, where she earned a Bachelor of Arts degree. She subsequently pursued graduate education at the University of Denver, where she obtained a Master of Business Administration (MBA). Her educational background combined a liberal arts foundation from her home state university with the business training that would prepare her for a career in corporate finance. The University of Denver's Daniels College of Business, where she completed her MBA, has a long-standing reputation in finance and accounting education, and Tomé's graduate training there proved instrumental in her subsequent roles in corporate financial management.

Career

Early Career

Before joining The Home Depot, Tomé held positions in the financial sector and in corporate finance. She worked at United Technologies Corporation and also served in banking roles early in her career. These early positions gave her experience in corporate finance, treasury operations, and strategic planning that would prove foundational for her later roles.

Tomé also had a connection to the packaging industry. She was associated with Riverwood International Corporation, a packaging company that later merged with Graphic Packaging in 2003. Her early career experiences across multiple industries provided her with a breadth of financial and operational knowledge.

The Home Depot (1995–2019)

Tomé joined The Home Depot in 1995 and rose to the position of chief financial officer (CFO) and executive vice president of corporate services, roles she held for the duration of her tenure at the company. Over nearly 25 years at The Home Depot, she became one of the most prominent and longest-serving CFOs in American corporate history.

During her time as CFO, The Home Depot grew from a large but still-expanding home improvement chain into the world's largest home improvement retailer. Tomé oversaw the company's financial strategy through multiple economic cycles, including the housing boom of the early 2000s, the devastating financial crisis of 2007–2009, and the subsequent recovery. Her financial stewardship was central to the company's ability to navigate these periods and maintain its competitive position against rival Lowe's and other home improvement retailers.

Tomé was recognized within the business community for her financial acumen and her role in shaping The Home Depot's capital allocation strategy, including its approach to share buybacks, dividends, and reinvestment in stores and technology. She became known for her ability to communicate complex financial strategies to investors and analysts, and she was a prominent figure at the company's earnings calls and investor presentations.

In 2008, Forbes included Tomé on its list of the most powerful women in business, recognizing her influence as one of the top female financial executives in corporate America. The Wall Street Journal also recognized her as one of corporate America's top CFOs.

Her contributions extended beyond financial management. Tomé was involved in corporate strategy, real estate decisions, and the company's approach to technology and e-commerce as The Home Depot adapted to the digital age. She was also recognized for her role as a mentor and leader within the organization, contributing to the development of future leaders at the company.

CNBC profiled Tomé during her tenure at The Home Depot, highlighting her role in the company's financial performance and strategic direction.

Tomé announced her retirement from The Home Depot in 2019. The company issued a formal announcement regarding her departure, noting her contributions over her long tenure. Her retirement from The Home Depot set the stage for her next and most prominent role.

CEO of UPS (2020–present)

On March 12, 2020, UPS announced that Tomé would succeed David Abney as chief executive officer, effective June 2020. The appointment was notable for several reasons. Tomé became the first person from outside UPS to serve as its CEO in the company's history, which dates to 1907. UPS had long been known for its promote-from-within culture, and the selection of an external candidate represented a significant departure from tradition.

However, Tomé was not entirely an outsider. She had served on the UPS board of directors since 2003, giving her approximately 17 years of familiarity with the company's operations, strategy, and culture before assuming the CEO role. In an interview with SaportaReport, Tomé described the CEO position as her "calling," expressing a sense of purpose about leading the logistics giant.

Tomé assumed the role at a particularly challenging time. Her start date in June 2020 came during the early months of the COVID-19 pandemic, which dramatically altered consumer behavior and placed enormous demands on package delivery networks. The surge in e-commerce driven by lockdowns and social distancing led to a massive increase in package volumes, and UPS, along with competitors FedEx and the United States Postal Service, faced the challenge of managing unprecedented demand while keeping employees safe.

Strategic Direction: "Better Not Bigger"

Under Tomé's leadership, UPS adopted a strategic framework often characterized as "better not bigger." Rather than pursuing volume growth at all costs, Tomé focused on improving the company's revenue quality, operating margins, and return on invested capital. This represented a shift from the previous emphasis on expanding market share and handling more packages.

A central element of this strategy involved the company's relationship with Amazon, its largest single customer. Under Tomé, UPS moved to reduce its dependence on Amazon deliveries, which, while providing significant volume, often came with lower margins compared to other business. As reported by Bloomberg in February 2026, Tomé's plan for the company's future prosperity involved diversifying beyond Amazon deliveries and focusing on higher-margin business segments.

This strategic pivot included investments in healthcare logistics, small and medium-sized business services, and international operations. UPS sought to position itself as a provider of specialized logistics solutions rather than competing primarily on the volume of residential package deliveries.

During the third quarter of 2025, UPS reported earnings with Tomé emphasizing "two major shifts the company will leverage for growth," according to the company's own summary of its Q3 2025 earnings announcement.

Labor Relations

Tomé's tenure has also been marked by significant interactions with the International Brotherhood of Teamsters, the union representing approximately 340,000 UPS workers in the United States. In 2023, UPS and the Teamsters negotiated a new five-year contract after contentious bargaining that brought the two sides close to a strike.

Labor relations have continued to be a point of tension under Tomé's leadership. In August 2025, the Teamsters for a Democratic Union (TDU), a reform caucus within the Teamsters union, reported on an incident in which Tomé made a surprise visit to a UPS facility in Plainfield, Indiana, where members of Teamsters Local 135 staged an impromptu demonstration in the parking lot.

In early 2026, the TDU reported that the International Union was taking legal action to block a UPS buyout that management was attempting to use to reduce the number of Teamster-represented jobs, characterizing the effort as Tomé "taking aim at union jobs." These labor disputes reflect the ongoing tensions inherent in managing one of the largest unionized workforces in the United States while pursuing a strategy of operational efficiency and margin improvement.

Stock and Investor Confidence

In August 2025, Barron's reported that Tomé purchased $1 million worth of UPS stock during a period when the share price had declined, a move interpreted by market observers as a signal of confidence in the company's long-term prospects. UPS Board Chair William Johnson also purchased shares around the same time.

Board and Industry Leadership

Tomé has been active in broader business leadership circles. She is a member of the Business Roundtable, an association of chief executive officers of major American companies that engages on economic and public policy issues.

In January 2026, Tomé issued a public statement regarding the nomination of Kevin Warsh to serve as Federal Reserve Chair, noting that Warsh had served on the UPS Board for more than 13 years and had been "a trusted advisor and colleague."

Personal Life

Carol Tomé is married to Ramon Tomé. The couple has been based in the Atlanta, Georgia metropolitan area for much of their adult lives, reflecting the fact that both The Home Depot and UPS are headquartered in the Atlanta area. The Home Depot's headquarters is in the Atlanta suburb of Cobb County, while UPS is headquartered in Sandy Springs, a city within the Atlanta metropolitan area.

Tomé has been involved in civic and community activities in the Atlanta area. Her philanthropic and civic interests have included support for education and community development, consistent with her long tenure as a business leader in the region.

In an interview with SaportaReport, Tomé discussed her decision to take the UPS CEO position in personal terms, describing it as a calling rather than simply a career move. This characterization suggests a sense of purpose and commitment that extends beyond professional ambition.

Recognition

Tomé has received numerous honors and recognitions throughout her career. Forbes has included her on its Power Women list multiple times. In 2025, she was ranked number 26 on the Forbes Power Women list. She has also appeared on the Fortune Most Powerful Women list.

In 2008, during her tenure as CFO of The Home Depot, Forbes recognized her on its list of the most powerful women in business.

Tomé was named to the Forbes 50 Over 50 list, which highlights individuals over the age of 50 who have achieved notable success or influence in their respective fields.

In 2024, Tomé was named a Georgia Trustee, an honor bestowed by the Georgia Historical Society in partnership with the Governor of Georgia. The Georgia Trustee award recognizes individuals whose accomplishments and community service reflect the ideals of the original Georgia Trustees, the colony's founding governing body. Tomé received the honor alongside Dr. Louis Sullivan, the former U.S. Secretary of Health and Human Services.

The Wall Street Journal recognized her as one of corporate America's top CFOs during her time at The Home Depot.

Legacy

Carol Tomé's career spans two of America's largest and most recognizable corporations, and her leadership roles at both The Home Depot and UPS have placed her among the most prominent female executives in American business history. Her appointment as the first outside CEO in UPS's history represented a notable break from the company's longstanding internal promotion tradition, signaling a willingness to embrace new perspectives in the face of a rapidly changing logistics industry.

At The Home Depot, her nearly 25-year tenure as CFO provided financial stability and strategic direction during periods of significant growth and economic turbulence. Her role in guiding the company through the 2008 financial crisis and the subsequent recovery contributed to The Home Depot's emergence as the dominant player in the home improvement retail sector.

At UPS, Tomé's "better not bigger" strategy represented an attempt to redefine the company's approach to growth in an era when e-commerce had fundamentally altered the economics of package delivery. Her efforts to reduce dependence on high-volume, lower-margin customers like Amazon and to invest in specialized logistics segments such as healthcare reflected a strategic vision aimed at long-term profitability over short-term volume growth.

Her tenure at UPS has not been without challenges, including navigating labor relations with the Teamsters, managing the operational disruptions of the COVID-19 pandemic, and addressing investor concerns about the company's stock performance. These challenges reflect the complexity of leading a company with hundreds of thousands of employees, a massive global infrastructure, and a central role in the functioning of modern commerce.

Tomé's career trajectory — from a small town in Wyoming to the helm of one of the world's largest companies — and her status as a member of the Business Roundtable underscore her position as a figure of significance in American corporate life.