I’m a capitalist, I like to make money, and I like to create value. I know equity—in all of its forms—is good for business.”
Carol tomé | CEO, UPs
CRYSTAL ASHBY:
how does it feel, being in the CEO seat?
CAROL TOMÉ:
Between the pandemic and social unrest, it’s definitely an interesting time to step into this role. UPS has rallied, and we’re moving in the right direction. We must continue fighting against racism, and fighting for equity. We have a long way to go, but i’m super excited about all the efforts we have underway.
CA:
how do you think you got this excitement about equity?
Ct:
i was born and raised in Jackson, Wyoming—a small, all-white, Protestant town. We studied the Civil War for UPS can be the company others look to and say, ‘We can do that, too.‘ That’s motivational for all of us.” perhaps one day, and never mentioned slavery. College was the same. But then i moved to Atlanta to work for Home depot. A Black woman on our board taught me about equity, especially its importance to business. i’m a capitalist, i like to make money, and i like to create value. i know equity—in all of its forms—is good for business.
CA:
how did that translate into leading a team in a purposeful and authentic way on race-related issues?
Ct:
People don’t follow you unless you’re authentic. For my first day, i planned a video greeting to employees that would lay out a new strategy. then george Floyd was killed. the planned video didn’t speak to how i felt—ashamed, embarrassed, and angry. so, i wrote those feelings down. i didn’t have it edited, scripted, or reviewed. that note opened the video. But i wanted to turn anger into action. externally, we expanded long-standing support of Black organizations, like the eLC, and extended support to new ones. We committed one million volunteer hours to Black communities. internally, we launched a salary review, unconscious bias training and uncomfortable conversations. We established the equity, Justice & Action task Force, a cross-functional group of uPs leaders focused on dismantling systemic racism.
CA:
how much of all of this do you think is really rooted in culture, beyond diversity and inclusion?
Ct:
it’s all rooted in culture. We’re a values-based company, but sometimes our behaviors don’t match our values. Aligning them is a strategic business imperative that requires cultural transformation. the commitment to equity must extend to suppliers, consultants, customers, the communities you serve. if our suppliers and consultants are not diverse and don’t want to change, we go somewhere else.
CA:
how do you align your investors with that same strategic business imperative?
Ct:
On my first earnings call in August, i talked about racial equity and justice reform. And i called it a strategic imperative. there’s another thing i’m really excited about: several uPs board members are retiring over the next few years. i’m committed to replacing them with diverse candidates. We will have one of the most diverse boards in Corporate America when i’m done.
CA:
how do you see making all your actions sustainable?
Ct:
i’ve surrounded myself with ambassadors who will carry these efforts forward by making all uPsers ambassadors. optimism is a force multiplier. uPs can be the company others look to and say, “We can do that, too.” that’s motivational for all of us.
CA:
I agree. Perfect ending. thank you so much, Carol.