UPS Names New Chairman, Boosts Dividend
February 10 2016 - 5:48PM
Dow Jones News
By Lisa Beilfuss
United Parcel Service Inc. named a new chairman on Wednesday,
saying Chief Executive David Abney would assume the role following
the retirement of Scott Davis.
Separately on Wednesday, UPS lifted its quarterly payout to 78
cents a share from 73 cents a share. The dividend is payable to
shareholders of record on Feb. 22.
The company said combining the roles of board chairman and CEO
would "improve strategic allignment."
Mr. Abney, who joined UPS in 1974, was named CEO in 2014. He
previously worked as the company's chief operating officer.
Mr. Davis led UPS as chief executive from 2008 until Mr. Abney
took the helm as part of an announced succession plan. He joined
UPS in 1986 when the company acquired II Morrow, an Oregon
aviation-technology company where he was CEO.
Write to Lisa Beilfuss at lisa.beilfuss@wsj.com
(END) Dow Jones Newswires
February 10, 2016 17:33 ET (22:33 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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