UPS Shareowners Elect Board, Reappoint Deloitte & Touche
Wilmington - Also Authorize Move to Majority Voting in Uncontested Elections
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 an amendment to the Certificate of Incorporation enabling the Board to provide for majority voting in uncontested director elections. Under this approach, considered a step toward greater accountability of directors to stockholders, the number of votes cast “for” a director must exceed the number of votes cast “against” that director in uncontested elections. In a contested election where the number of nominees exceeds the number of directors to be elected, directors would continue to be elected by plurality vote.
Ten directors stood for election to the Board of Directors and all were elected by substantial margins. The 10 include Chairman Scott Davis; Duane Ackerman; Michael Burns; Stuart Eizenstat; Mike Eskew; Bill Johnson; Ann Livermore; Rudy Markham; John Thompson, and Carol Tome.
The appointment of Deloitte & Touche to serve as the company’s independent auditors for 2010 also was ratified by a wide margin.
UPS (NYSE:UPS) is the world’s largest package delivery company and a global leader in supply chain and freight services. With more than a century of experience in transportation and logistics, UPS is a leading global trade expert equipped with a broad portfolio of solutions. Headquartered in Atlanta, Ga., UPS serves more than 200 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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