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UPS Shareowners Elect Board, Reappoint Deloitte & Touche

Date : 05/03/2012 @ 8:37AM
Source : Business Wire
Stock : United Parcel Service (UPS)
Quote : 98.02  0.69 (0.71%) @ 2:50PM
UPS share price Chart

UPS Shareowners Elect Board, Reappoint Deloitte & Touche

UPS (NYSE:UPS)
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Shareowners of UPS (NYSE: UPS) today elected a Board of Directors for a one-year term and ratified the appointment of Deloitte & Touche LLP as the company’s independent registered public accountants.

On other matters, a majority of shareowners voted to approve the 2012 Omnibus Incentive Compensation Plan, which authorizes the issuance of equity compensation to UPS employees and directors, and to increase the number of shares available under the Discounted Employee Stock Purchase Plan, which encourages employee ownership by offering UPS stock at a 5% discount.

The shareholders also rejected a shareowner proposal that would have required the preparation of an annual report on the company's government affairs and lobbying activities. The Board, which exercises independent oversight of all UPS lobbying and political contributions and expenditures, had recommended a “No” vote on the grounds that UPS already has effective policies for the appropriate disclosure and oversight of the company's lobbying and political activities.

Twelve directors stood for election to the Board of Directors and all were elected by substantial margins. The 12 include Chairman Scott Davis; Duane Ackerman; Michael Burns; Stuart Eizenstat; Mike Eskew; Bill Johnson; Candace Kendle; Ann Livermore; Rudy Markham; Clark “Sandy” Randt; John Thompson, and Carol Tomé.

The appointment of Deloitte & Touche to serve as the company’s independent auditors for 2012 also was ratified by a wide margin.

UPS (NYSE:UPS) is a global leader in logistics, offering a broad range of solutions including the transportation of packages and freight; the facilitation of international trade, and the deployment of advanced technology to more efficiently manage the world of business. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. The company can be found on the Web at UPS.com and its corporate blog can be found at blog.ups.com. To get UPS news direct, visit pressroom.ups.com/RSS.



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