UPS Board Names Pharma Expert Dr. Candace Kendle a Director; Also Sets Regular Dividend
CHICAGO--(BUSINESS WIRE)-- The UPS (NYSE:UPS) Board of Directors today named Dr. Candace Kendle, a noted expert in the biopharmaceutical industry, a company director effective immediately. Her appointment to the post expands the UPS Board to 12 members.
The Board also declared a regular quarterly dividend of $0.52 per share on all outstanding Class A and Class B shares. The dividend is payable Sept. 7, 2011, to shareholders of record on Aug. 22, 2011.
UPS’s dividend has more than tripled since 2000, when it stood at $0.17 per share. The company has either increased or maintained its dividend every year for more than four decades.
Dr. Kendle, 64, is the co-founder and former chairman and CEO of Kendle International Inc., a global clinical research organization that delivers a wide range of clinical development and clinical trial services to biopharmaceutical companies around the world. Headquartered in Cincinnati, the company was acquired last month by INC Research LLC of Raleigh, N.C., for $232 million.
Dr. Kendle is a founding member and past chairperson of the Association of Clinical Research Organizations and is recognized worldwide as a leader in the clinical research industry. She earned a doctorate in pharmacy from the University of Cincinnati, then completed post-doctoral training at the Cincinnati Children’s Hospital Medical Center and the University of North Carolina School of Public Health in Chapel Hill.
Prior to founding Kendle International, Dr. Kendle held senior faculty positions at the University of North Carolina Schools of Pharmacy and Medicine; the University of Pennsylvania School of Medicine; the Philadelphia College of Pharmacy and Science, and the University of Cincinnati College of Pharmacy.
Dr. Kendle is a member of the Committee of 200, an organization of preeminent women entrepreneurs and corporate leaders, and serves as a mentor for the Fortune-U.S. State Department Global Women Leaders Mentoring Partnership. For more than 10 years, she has served on the H.J. Heinz Company Board of Directors, where she sits on the Audit and Management Development & Compensation Committees.
Dr. Kendle will stand for election to a regular one-year term at UPS’s annual shareowners’ meeting in May 2012. She will serve on the Audit Committee of the Board.
Dr. Kendle joins the Board at a time when UPS has made healthcare logistics one of its most important strategic priorities. With the addition of new facilities earlier this year in Singapore, the Netherlands, Canada, Latin America and the U.S., UPS now operates 30 global healthcare facilities in strategic locations around the globe with more than 4 million square feet of dedicated healthcare distribution space.
UPS (NYSE:UPS) is a global leader in logistics, offering a broad range of solutions including the transportation of packages and freight; the facilitation of international trade, and the deployment of advanced technology to more efficiently manage the world of business. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. The company can be found on the Web at UPS.com and its corporate blog can be found at blog.ups.com. To get UPS news direct, visit pressroom.ups.com/RSS.
Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements, including statements regarding the intent, belief or current expectations of UPS and its management regarding the company's strategic directions, prospects and future results, involve certain risks and uncertainties. Certain factors may cause actual results to differ materially from those contained in the forward-looking statements, including economic and other conditions in the markets in which we operate, our competitive environment, increased security requirements, strikes, work stoppages and slowdowns, changes in energy prices, governmental regulations and other risks discussed in the company's Form 10-K and other filings with the Securities and Exchange Commission, which discussions are incorporated herein by reference.
Norman Black, 404-828-7593
Andy Dolny, 404-828-8901
Released August 11, 2011