Shareowners of 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, 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.
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; Carol Tome, and Kevin Warsh.
The appointment of Deloitte & Touche to serve as the company's independent auditors for 2013 also was ratified by a wide margin.
On other matters, 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.
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; Carol Tome, and Kevin Warsh.
The appointment of Deloitte & Touche to serve as the company's independent auditors for 2013 also was ratified by a wide margin.
