Summary by Futu AI
UPS announced the appointment of Brian Dykes as Executive Vice President and Chief Financial Officer, effective July 9, 2024. In his new role, Dykes will oversee the company's financial strategies and lead the global finance organization, including planning, treasury, tax, financial reporting, operations, and investor relations.Dykes, 46, brings over 25 years of experience at UPS, most recently serving as Senior Vice President of Global Finance and Planning since April 2023. His compensation package includes a $725,000 base salary, a 115% target Management Incentive Program award, a 450% Long-Term Incentive Performance program award, and a stock option grant equal to 50% of his 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. His 2024 LTIP program target award will be adjusted with an increase of approximately $1.5 million, with the final award value determined by company performance for the 2024-2026 period.
