UPS shares fall, despite earnings beat, as COO retirement throws wrench in succession plans

United Parcel Service's strong earnings report Tuesday was overshadowed by news of the retirement of Chief Operating Officer Jim Barber, who was long viewed as the company's next CEO.

Shares in Atlanta-based UPS fell on news of the departure of Chief Operating Officer Barber.

Despite the advantage, investors remain wary of the potential ill-effects of the ongoing US-China trade war on the company as it gears up for what could be its biggest holiday season in history. "That is the normal progression cycle that we have at UPS. People will normally spend their entire careers," Chairman and CEO David Abney said Tuesday on CNBC's "Shares of Atlanta-based UPS fell by about 3% after UPS announced Barber's retirement in December — despite a 14% surge in third-quarter profit that beat analysts' earnings-per-share estimates by a penny at $2.07 a share, according to data compiled by Refinitiv.

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