A Non-UPS Chairman ?

[Black_6_Leader]

Up to now, the by-laws of UPS have reserved the position of "Chairman of the Board" (of Directors) for the Chief Executive Officer of the company. In essence the Leader of the organization had to be a "UPS" employee.

Well I'm here to tell you that that has changed ~ Here is a little hidden gem in the SEC Form 8K filed after the last board of Directors meeting.
"On February 14, 2013, the Board of Directors (the “Board”), acting upon the recommendation of the Nominating and Corporate Governance Committee of the Board (the “Committee”), approved the amendment and restatement of the Company’s Amended and Restated Bylaws (the “Bylaws”). The Bylaws were amended to increase the Board’s future flexibility when it periodically evaluates the Board’s leadership structure by: (1) deleting the presumption in Article V, Section 7 that the Chairman of the Board “shall be the chief executive officer of the Corporation;"
http://www.sec.gov/Archives/edgar/data/1090727/000110465913011826/a13-5287_18k.htm

In other words, the board is no longer obligated to make the CEO the Chairman. The plate has been set for the outside Chairman (Its not as if D Scott Davis was not enough of an outsider)

This is the final shovel of dirt that buried the "Partnership".

 

[Catatonic]

No surprise here and they have been raising the total compensation package for no reason other than to attract outside talent.
There is only one person on the current management committee that is remotely qualified.

 

[Bucket of Boltz]

You may be missing the possibility that the next CEO is an outsider and Scott will be the COB.

 

[TxRoadDawg]

As long as it makes all the OUTSIDE share holders happy

 

[Black_6_Leader]

There is only one UPSers (former) on the Board as it is - Mike Eskew. I would not consider D. Scott Davis a UPSer; in spite of the fact that he is the current CEO.

 

[InsideUPS]

Up to now, the by-laws of UPS have reserved the position of "Chairman of the Board" (of Directors) for the Chief Executive Officer of the company. In essence the Leader of the organization had to be a "UPS" employee.

Well I'm here to tell you that that has changed ~ Here is a little hidden gem in the SEC Form 8K filed after the last board of Directors meeting.
"On February 14, 2013, the Board of Directors (the “Board”), acting upon the recommendation of the Nominating and Corporate Governance Committee of the Board (the “Committee”), approved the amendment and restatement of the Company’s Amended and Restated Bylaws (the “Bylaws”). The Bylaws were amended to increase the Board’s future flexibility when it periodically evaluates the Board’s leadership structure by: (1) deleting the presumption in Article V, Section 7 that the Chairman of the Board “shall be the chief executive officer of the Corporation;"
http://www.sec.gov/Archives/edgar/data/1090727/000110465913011826/a13-5287_18k.htm

In other words, the board is no longer obligated to make the CEO the Chairman. The plate has been set for the outside Chairman (Its not as if D Scott Davis was not enough of an outsider)

This is the final shovel of dirt that buried the "Partnership".

Black_6_Leader .. Thank you for bringing this matter to our attention. It certainly will be interesting to see what happens next. You are correct, "Partnership" certainly has a different definition at UPS that it once did in the past.

 

[Karma...]

Black_6_Leader .. Thank you for bringing this matter to our attention. It certainly will be interesting to see what happens next. You are correct, "Partnership" certainly has a different definition at UPS that it once did in the past.

......Perhaps ups should increase the pay to the amount it would take to get a CEO who could really move the stock consistantly upwards........maybe we should ask Fred S...He surely knows how to run a company and keep the teamsters out..

 

[island1fox]

I hear Mitt needs a job.

 

[superballs63]

I hear Mitt needs a job.

You hear wrong. I believe he got a job making a few dollars with Marriott

 

[island1fox]

You hear wrong. I believe he got a job making a few dollars with Marriott

super,

You heard wrong.

Mitt's new job is with Solamere Capital --an investment Company.

He rejoined the Board of Directors of Marriot Hotel after the election.

 

[2BOver]

There is only one person on the current management committee that is remotely qualified.

Who might that be? The way decisions are being made today, I can't think of one.

 

[island1fox]

Who might that be? The way decisions are being made today, I can't think of one.

Myron would be the first Black CEO for UPS.


Major restructuring of Districts and Regions saved big money and Myron was the guy that had to make it work.

Who on the Board or Management committee is less qualified than Scott ??


Come on --get real --We have a Commumnity Organizer as President of the United States---Any UPS management person that is District Manager level or higher with at least 25 years of UPS experience ---would be more than qualified to run a Company.

 

[oldbrownguy]

OPL is gone, and I dont mean the declared value money dumped into an off shore account. I am talking about "Our Partnership Legacy". When was the last time you heard " Thanks partner"?. Its gone folks....So bring in another outsider, it doesn't matter. The BOD makes their own rules and can change them when they want to fit their situation. They are arrogant and only care about how much money THEY are making. With only two players, FDX wins some and we win some. In the end, the customers lose.

 

[SignificantOwner]

No surprise here and they have been raising the total compensation package for no reason other than to attract outside talent.
There is only one person on the current management committee that is remotely qualified.

So you're basically saying that a working knowledge of our core business and culture isn't part of the required skills set. What skills set is required?

 

[Catatonic]

So you're basically saying that a working knowledge of our core business and culture isn't part of the required skills set. What skills set is required?

I googled "Skills needed for CEO" and none of the first 5 sites listed had "working knowledge of the core business" as a needed skill.
My personal belief is "that" is a skill needed by mangers but not the CEO ... although it would be nice.

5 Skills Every New CEO Needs - Forbes

Making It to the Top: Nine Attributes That Differentiate CEOs | Russell Reynolds Associates

CEO Skills Inventory

Critical Skills for the CEO | CEO Advisor Blog

5 Traits You Must Have If You Want To Be A Successful CEO | Glassdoor Blog

 

[SignificantOwner]

I googled "Skills needed for CEO" and none of the first 5 sites listed had "working knowledge of the core business" as a needed skill.
My personal belief is "that" is a skill needed by mangers but not the CEO ... although it would be nice.

5 Skills Every New CEO Needs - Forbes

Making It to the Top: Nine Attributes That Differentiate CEOs | Russell Reynolds Associates

CEO Skills Inventory

Critical Skills for the CEO | CEO Advisor Blog

5 Traits You Must Have If You Want To Be A Successful CEO | Glassdoor Blog

The Wharton link (4th one) lists a crystal clear understanding of the company's operations as part of the #1 critical skill. But listening to the investor calls I don't hear anyone speaking that I think would make a good CEO.

 

[Catatonic]

The Wharton link (4th one) lists a crystal clear understanding of the company's operations as part of the #1 critical skill. But listening to the investor calls I don't hear anyone speaking that I think would make a good CEO.

I understand where you are coming from but I don't think that Wharton would evaluate any previous UPS CEO prior to Mike Eskew very well.

Welcome to the new world (to us) of the modern Corporate world.

Just pretend you work for XYZ corporation, take two aspirin and you'll feel better.

 

[SignificantOwner]

Myron would be the first Black CEO for UPS.


Major restructuring of Districts and Regions saved big money and Myron was the guy that had to make work

Sounds like Atlanta speak. I and many of my coworkers took on new areas of responsibility and made it work. The group made it work.

 

[island1fox]

Sounds like Atlanta speak. I and many of my coworkers took on new areas of responsibility and made it work. The group made it work.

SO,

You made my point ----It Worked --Respectfully I do not believe any Division Mgrs, Business Mgrs, On car Supervisors or Part -Time Supervisors are under consideration at this moment. Or any "Group"

I firmly believe when the "smoke" goes up the chimney --we will have the first Black CEO for UPS.

I do not speak "Atlanta" I worked in many , many States and Numerous Countries ---Operations Mainly ---never "played" in Atlanta.


Myron has demonstrated strong Leadership skills over many years ---and as NATIONAL OPERATIONS Manager --made the Re-structuring work .

 

[SignificantOwner]

SO,

You made my point ----It Worked --Respectfully I do not believe any Division Mgrs, Business Mgrs, On car Supervisors or Part -Time Supervisors are under consideration at this moment. Or any "Group"

I firmly believe when the "smoke" goes up the chimney --we will have the first Black CEO for UPS.

I do not speak "Atlanta" I worked in many , many States and Numerous Countries ---Operations Mainly ---never "played" in Atlanta.


Myron has demonstrated strong Leadership skills over many years ---and as NATIONAL OPERATIONS Manager --made the Re-structuring work .

There is no special skill involved in cutting staffing. What new ideas does he have outside of the same ol' on time network?