Summary
United Parcel Service, Inc. (UPS) filed an 8-K report on August 15, 2011, to announce a significant change in its Board of Directors. Dr. Candace Kendle was appointed as an independent director, effective August 11, 2011, and also joined the Audit Committee. This appointment is noteworthy as Dr. Kendle brings a wealth of experience from the biopharmaceutical and clinical research sectors, having co-founded and led Kendle International Inc., a global clinical research organization. Her background as a leader in her industry and her prior board experience, including a decade with H.J. Heinz Company, are expected to provide valuable oversight and strategic insight to UPS.
Key Highlights
- 1Appointment of Dr. Candace Kendle as an independent director to the Board of Directors, effective August 11, 2011.
- 2Dr. Kendle has been appointed as a member of the Audit Committee.
- 3Dr. Kendle is a co-founder and former chairman and CEO of Kendle International Inc., a global clinical research organization.
- 4Her expertise spans the biopharmaceutical and clinical research industries, with extensive leadership experience.
- 5Dr. Kendle has prior board experience, including over 10 years on the H.J. Heinz Company Board of Directors.
- 6Her director compensation will align with the company's established policy for non-employee directors.
- 7There are no undisclosed transactions or arrangements requiring disclosure related to Dr. Kendle's appointment.
Frequently Asked Questions
The primary purpose of this 8-K filing is to announce the appointment of Dr. Candace Kendle as a new independent director to United Parcel Service, Inc.'s Board of Directors and her subsequent appointment to the Audit Committee.
Dr. Kendle is a highly experienced executive and entrepreneur, having co-founded and served as chairman and CEO of Kendle International Inc., a prominent global clinical research organization. She possesses extensive knowledge of the biopharmaceutical sector and has a strong track record in leadership and corporate governance, including over a decade of service on the H.J. Heinz Company's Board.
Dr. Kendle's appointment is expected to benefit UPS by bringing a fresh perspective and specialized expertise, particularly given her background in a highly regulated industry and her experience with audit and compensation committees. Her leadership and strategic insights, gained from founding and leading a global company and serving on other public boards, can contribute to effective corporate oversight.
No, the filing states that Dr. Kendle's compensation for her director services will be consistent with the standard arrangements for other non-employee directors at UPS. There are no undisclosed arrangements or understandings related to her appointment, nor are there any transactions with the company that require special disclosure.