UPS shareowners reappoint Deloitte & Touche
Shareowners of UPS have 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 includes: 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.
