Discussion in 'UPS Partners' started by david, Nov 12, 2003.
any info on the board meeting?
It is today at UPS Technology Center in Mahwah, NJ. All the usual suspects will be there.
board meeting for what?
UPS (NYSE:UPS.N) today announced at the regularly
scheduled meeting of its Board of Directors several changes in top
management. The UPS Board also declared a quarterly dividend of
25-cents per share on all outstanding Class A and Class B shares.
The dividend is payable on Jan. 5, 2004, to shareholders of record
on Nov. 24, 2003.
Announcing their retirements from UPS at year's end were Thomas H.
Weidemeyer, chief operating officer and president of UPS Airlines, and
Joseph R. Moderow, general counsel, corporate secretary and head of
global public affairs and public relations. Weidemeyer and Moderow
also serve on the UPS Board of Directors as well as the UPS Management
Committee, the senior management group responsible for overseeing
day-to-day operations of the company.
Named to succeed Weidemeyer as chief operating officer and
president of UPS Airlines is John Beystehner, a 32-year company
veteran who currently serves as senior vice president of worldwide
sales and marketing. Replacing Moderow as general counsel and
corporate secretary will be Allen Hill, a 27-year UPSer who is
currently vice president heading the company's legal department.
Succeeding Beystehner as senior vice president of worldwide sales
and marketing will be Kurt Kuehn, currently vice president in charge
of investor relations.
Hill and Kuehn were elected senior vice presidents by the UPS
Board and will become the newest members of the UPS Management
Committee effective Jan. 1, 2004.
"Tom and Joe leave behind a legacy of invaluable service to our
company," said UPS Chairman and CEO Mike Eskew. "They helped guide UPS
through many significant transformations and we all have benefited
from their leadership and commitment to integrity and ethical business
Tom Weidemeyer began his UPS career in 1972 and served in various
assignments of increasing responsibility in package operations, air
operations and the legal department. In 1989 he was named to head the
company's Americas operations, where he directed the development of
the UPS delivery network throughout Central and South America. In
1990, he was appointed head of UPS Airlines and oversaw a period of
dramatic growth during which UPS became the 11th largest airline in
the world. Weidemeyer has been a member of the UPS Board since 1998.
Joe Moderow joined UPS in 1968 and served in numerous positions in
operations and engineering before being promoted to the corporate
legal function in 1977. He later served in the company's national
labor relations group and also headed the operations team for the
start-up of international air service in 1986. That same year he
became general counsel and corporate secretary and has since served
under four UPS CEOs. He subsequently assumed responsibility for global
public affairs and public relations. Moderow has been a UPS director
John Beystehner, 52, brings a broad range of experience to his new
position as chief operating officer. Between 1971 and 1983, Beystehner
was involved in all phases of UPS's package operations. He also has
held various positions in legal, marketing, sales and air operations.
As operations manager for UPS Airlines, Beystehner was heavily
involved in the legal and regulatory aspects associated with the
start-up of the airline, major aircraft acquisitions and labor
negotiations. He assumed the position of worldwide sales manager in
1997 and marketing manager in 2001. Under Beystehner's direction, UPS
launched its largest advertising initiative ever -- the "What Can
Brown Do for You?" campaign -- and one of the largest and most complex
branding initiatives in corporate history last March, including the
first change in the UPS logo in more than 40 years.
Kurt Kuehn, 49, will assume responsibility for worldwide sales and
marketing. Kuehn joined UPS in 1977 and has had a wide range of
experience in operations, engineering, finance and marketing. In 1998,
he wasnamed to head the business function responsible for market
research and competitive analysis. Kuehn then played an instrumental
role in UPS's initial public offering of stock in 1999, which was at
the time the largest IPO in the history of Wall Street. He
subsequently was named the company's first Investor Relations manager.
Allen Hill, 48, joined UPS in 1976 and rose through various
assignments in operations and human resources before joining the
company's legal function in 1988. In 1995 he was named vice president
and department manager responsible for all of UPS's worldwide legal
affairs. In addition to his role as senior vice president, general
counsel and corporate secretary, Hill also will be responsible for
public affairs and public relations.
"It is a testament to the strength and depth of our management
team that we have such high-caliber people ready to step in and lead
our company as we execute on our strategy of synchronizing the world
of commerce," said Eskew.
Paying off bond debt, buying back stock, and now a bigger dividend; do you think there's a little cash laying around waiting for something to do?
Shareowners will miss having Kurt there to help with the ANALysts meetings, he is a very intelligent guy. Joe will be missed, he is a man of such high integrity, a real good man, we owe him a debt of gratitude for his service. Joe, you did a good job and we appreciate it.
Don't overlook Tom Weidemeyer. Look at the air operation in 89' and look at it now including the latest addition of Worldport. Not taking a thing away from the other folks mentioned but from my perspective the name that jumped out at me in this release was Tom's. Whoever fills his shoes better soak them feet in Miracle Grow because Tom's shoes will be huge ones to fill. I assume Tom will remain on the Board as his oversite and experience there will be invaluable IMO.
I agree, I am amazed that he is 55 .... Both gave their BEST. Fits the profile though, get to that age, finish with a flourish, move on, pass the baton. Without even missing a beat ....
...And... the success of UPS is that there will almost always be an experienced person to immediately take their places. Many other companies look to the "outside" to fill this type of high level position with the idea that an "Ivy League" degree trumps company experience. Promoting from within has worked so well for UPS since 1907 that it never ceases to amaze me that few other corporations have caught of to its success.
Some companies do not attempt to create, update, improve their CULTURE. With 96 years under our belt, maintaining and improving our culture is a good measurement of our success. Even begrudingly the Teamsters know that the UPS Culture has guaranteed them success as well.
Local 63 baby}