UPS chief’s pay package grows to $13.7M


UPS Chief Executive David Abney’s pay package rose more than 20 percent last year even as the shipping giant struggled with weakening profits from dropping off online orders at homes.

Abney’s total compensation was $13.7 million last year, vs. almost $11.3 million the previous year, according to its proxy filed this week. His package included a $1.1 million salary, almost $10.2 million in stock-related awards and a $387,741 bonus.

About a third of the boost came from an increase in the value of pension benefits.

Other top executives at the Sandy Springs-based company received similar or bigger package boosts in percentage terms, according to the proxy.

“Under David’s leadership as CEO, UPS ended 2016 with positive results in many areas including record earnings,” the company said in its filing.

“However, the challenges of forecasting and adapting the UPS business model to the growing (business-to-consumer) environment (caused costs to grow) at a disproportionate rate and kept overall results below expectations,” the company said. UPS said the strong dollar also crimped the company’s bottom line.

UPS reported $3.4 billion in profits last year, down 29 percent from 2015. Part of the decline was due to billions of dollars in pension costs for its U.S. and overseas workers.

Revenue increased more than 4 percent last year, to $60.9 billion. But some analysts were disappointed that rising online order delivery volume hurt profit margins.



Reader Comments ...


Next Up in Business

Kempner: Arby’s eats Buffalo wings? Why the chicken wing war is on
Kempner: Arby’s eats Buffalo wings? Why the chicken wing war is on

It used to be that chicken wings didn’t do much good, even when still attached to chickens. Now, it’s the priciest part of our most important bird in Georgia. That’s kind of crazy if you think about it. A wimpy wing with the bone still in costs more than boneless breast meat? But restaurants and grocers have figured it out, which...
‘Call of Duty: WWII,’ rallying the shooter on multiple fronts
‘Call of Duty: WWII,’ rallying the shooter on multiple fronts

“Call of Duty: WWII” Rallying The Shooter On Multiple Fronts Platform: PS4, Xbox One, PC Style: 1-Player Shooter (18-Player Online) Publisher: Activision Developer: Sledgehammer Games Release: November 3 Rating: M Score: 8.75/10 Concept: Explore a historically rooted campaign, spooky puzzles in zombie mode, and class-based customization...
Twitter doubles length of tweets to 280 characters

When Twitter announced in September it was testing longer tweets, some users praised the change while others feared the site would lose its sense of brevity. Now the San Francisco tech firm has officially doubled the character limit of its tweets to 280 characters. The change applies to all languages except for Japanese, Korean, and Chinese because...
Backup device offers peace of mind, sleek design
Backup device offers peace of mind, sleek design

You might not think of an external hard drive as fun, sexy or cool, but the OWC Mercury Elite Pro Dual mini can be any or all of them. I can say first hand you’ll find it useful at home, work, play, and even consider taking it on vacation. And if you wonder why I feel this way, I’ll be happy to tell you. I’ll start by mentioning probably...
CNET: Best sound bars of 2017
CNET: Best sound bars of 2017

If you’ve purchased your first wide-screen TV, you probably discovered that its built-in speakers don’t sound that good — if it came with any at all. The solution? Get a sound bar system. They can cost anywhere from a couple of hundred bucks up to a grand or more, but it’s money well spent in any case. Here are four of the best...
More Stories