Summary by Futu AI
United Parcel Service announced the appointment of Brian M. Dykes as Executive Vice President and Chief Financial Officer, effective July 9, 2024. Dykes, 46, brings over 25 years of experience with UPS, most recently serving as Senior Vice President, Global Finance and Planning since April 2023.In his new role, Dykes will be responsible for UPS's financial strategies and lead the global finance organization. His compensation package includes an annual base salary of $725,000, a Management Incentive Program award with a 115% target, a Long-Term Incentive Performance program award targeting 450% of base salary, and a stock option grant equal to 50% of base salary.CEO Carol B. Tomé expressed confidence in Dykes' appointment, citing his financial and business acumen developed through various strategic leadership roles at UPS. The company aims to leverage Dykes' expertise to execute its "Better and Bolder" strategy and drive shareowner value.