UPS’ CEO total pay declines
CONTINUING COVERAGE
The AJC is tracking what Georgia’s major public companies pay their top executives. Look for periodic news and trend stories in the weeks ahead, as well as up-to-date statistics, as reporters pore through this year’s corporate proxy statements.
UPS Chief Executive Scott Davis was paid $12.1 million in 2012, a 6.9 percent decline, as the firm’s revenue, profits and shareholder returns slowed last year.
Davis, a long-time UPS executive who has been CEO since 2008, was awarded $1 million in salary and a bonus, $9.2 million in stock and stock options, and $426,034 in other incentives, according to a proxy statement the company filed Monday.
Davis’ 2012 compensation also included a nearly $1.5 million increase in the estimated value of his pension.
In 2011, Davis, 61, was paid almost $13.1 million.
The look at Davis’ compensation is part of The Atlanta Journal-Constitution’s analysis of the pay of Georgia’s top executives over coming weeks. Executive pay has gained increased attention from investors and lawmakers in the wake of the 2007-2009 financial crisis.
The decline in Davis’ compensation comes as UPS’ financial performance and stock gains have slowed.
Last year, UPS’ revenue rose less than 2 percent, to $54.1 billion. Likewise, investors in the Sandy Springs package-delivery giant saw only a 2.2 percent gain last year, including dividends.
In 2012, UPS reported an $807 million profit – well below its $3.8 billion net income in 2011 – mostly because of a $3 billion non-cash charge related to its pension plans. Without the charge, the company said it would have had a $4.4 billion profit last year.
