8-KLeadership ChangesExhibits & Filings

AFLAC INC 8-K Report, Executive Changes (Feb 10, 2015)

Filed February 10, 2015For Securities:AFL

Summary

Aflac Incorporated (AFL) announced a change in its Board of Directors through an 8-K filing on February 10, 2015. The company appointed Thomas J. Kenny to the Board, effective immediately, filling a vacancy. Mr. Kenny's appointment is for a term that will conclude at the 2015 Annual Meeting of Shareholders. He will also serve on the Investment and Investment Risk Committee. Concurrently with his appointment to the Board, Aflac terminated a consulting agreement with Mr. Kenny that had been in place since April 2012. Under this agreement, Mr. Kenny provided consulting services to the Investment and Investment Risk Committee, with his annual compensation increasing to $240,000 after April 19, 2014. Mr. Kenny will now be compensated as a non-employee director according to the company's established plans.

Key Highlights

  • 1Appointment of Thomas J. Kenny to the Board of Directors.
  • 2Mr. Kenny's appointment is effective immediately and his term expires at the 2015 Annual Meeting of Shareholders.
  • 3Mr. Kenny has been appointed to serve on the Investment and Investment Risk Committee.
  • 4Aflac terminated its consulting agreement with Mr. Kenny, effective February 9, 2015.
  • 5Mr. Kenny's prior annual consulting fee was $240,000.
  • 6Mr. Kenny will receive compensation as a non-employee director, as per company plans.

Frequently Asked Questions

Thomas J. Kenny was appointed to the Aflac Incorporated Board of Directors to fill a vacancy. He was previously a consultant for the Investment and Investment Risk Committee.

Aflac terminated its consulting agreement with Mr. Kenny upon his appointment to the Board. He will transition from a consultant role to a non-employee director role.

Mr. Kenny will be compensated in accordance with Aflac's standard non-employee director compensation plans and practices, as detailed in the company's prior proxy statement.

Mr. Kenny's consulting fee was $150,000 per year initially, and was increased to $240,000 per year after April 19, 2014, for additional services.