U.S. Postal Service Announces Retirement of Chief Financial Officer Joseph Corbett and Appointment of Luke Grossmann as Successor

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Nov 13, 2024, 13:30 ET

Corbett's Leadership Paves the Way for Future Growth as Grossmann Steps into Key Financial Role

WASHINGTON, Nov. 13, 2024 /PRNewswire/ -- The U.S. Postal Service (USPS) announced the retirement of Joseph "Joe" Corbett, Chief Financial Officer and Executive Vice President, effective December 31, 2024. During a distinguished career with the Postal Service since 2009, Corbett made significant contributions to the organization, navigating complex financial landscapes and implementing key strategies that have shaped its operations.

Corbett has served as the CFO and Executive Vice President, overseeing Finance and Strategy, Treasury, Accounting, Pricing and Costing, and Supply Management functions. His tenure has been marked by a commitment to financial transparency and responsible decision-making, particularly following the enactment of the Postal Accountability and Enhancement Act, which transformed the Postal Service's operational framework.

Before joining the Postal Service, Corbett built an extensive career in accounting and finance, spending over a decade at KPMG, where he worked with large publicly and privately held companies. He also held senior management roles at Intelsat, Ltd. and Bearing Point, Inc. rising to Chief Accounting Officer and Chief Financial Officer of both. Prior to this, he held a senior financial management role at NVR, Inc.

"Joe has been a cornerstone of our financial strategy and decision-making, guiding the Postal Service through numerous financial challenges," said Postmaster General Louis DeJoy. "We thank him for his invaluable contributions and wish him all the best in his future endeavors."

Luke Grossmann has been appointed as the new Chief Financial Officer and Executive Vice President, effective November 30, 2024. Currently serving as the Senior Vice President of Finance & Strategy, Grossmann brings a wealth of experience and knowledge to his new role. He has been pivotal in leading the Postal Service's strategic planning, budgeting, forecasting, and financial analysis efforts.

Since joining the Postal Service in 2005, Grossmann has held various positions that have prepared him for this leadership role, including Director of Operations Research, Insight and Continuous Improvement, and District Manager of Albany, New York. His educational background includes a bachelor's degree in economics and finance from American University, an MBA from the University of Maryland, and a Master of Science in management from the Massachusetts Institute of Technology as a Sloan Fellow.

"We are excited to welcome Luke as our new CFO," said DeJoy. "His proven leadership and extensive experience with the Postal Service will be instrumental in continuing our financial strategy and supporting the Delivering for America plan."

As the Postal Service transitions to new financial leadership, it remains committed to its mission of providing reliable and efficient service to the American public.

Please Note: The United States Postal Service is an independent federal establishment, mandated to be self-financing and to serve every American community through the affordable, reliable and secure delivery of mail and packages to 169 million addresses six and often seven days a week. Overseen by a bipartisan Board of Governors, the Postal Service is implementing a 10-year transformation plan, Delivering for America, to modernize the postal network, restore long-term financial sustainability, dramatically improve service across all mail and shipping categories, and maintain the organization as one of America's most valued and trusted brands.

The Postal Service generally receives no tax dollars for operating expenses and relies on the sale of postage, products and services to fund its operations.

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