UPS Shareowners Elect Board, Reappoint Deloitte & Touche
WILMINGTON, Del., May 8, 2014 (GLOBE NEWSWIRE) -- 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. Shareowners also approved the proposal to vote, in an advisory basis, to approve the compensation of the Named Executive Officers of the company.
The shareowners rejected a shareholder proposal that would have required additional disclosure concerning the company's government affairs and lobbying activities in excess of current requirements. 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.
The shareowners also rejected a shareholder proposal that sought to require the board to reduce the voting power of Class A stock from 10 votes per share to one vote per share.
Thirteen directors stood for election to the Board of Directors and all were elected by substantial margins. The 13 include Chairman Scott Davis; Duane Ackerman; Rodney Adkins; Michael Burns; Stuart Eizenstat; Mike Eskew; Bill Johnson; Candace Kendle; Ann Livermore; Rudy Markham; Clark "Sandy" Randt; Carol Tomé, and Kevin Warsh.
The appointment of Deloitte & Touche to serve as the company's independent auditors for 2014 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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