Navigation Links
Aflac Chairman & CEO Will Forgo 2008 Bonus of $2.8 Million
Date:2/23/2009

COLUMBUS, Ga., Feb. 23 /PRNewswire/ -- Aflac, Inc. announced today that Daniel P. Amos, Chairman and Chief Executive Officer, has elected to forgo his 2008 bonus of $2.8 million that he earned based on achievement of operating performance measures. The board's compensation committee accepted his proposal recognizing that, although Aflac delivered a strong operating performance in 2008, it is not reflected in the company's stock price given the current turbulence in the stock markets.

In addition, Kriss Cloninger III, Aflac Incorporated President and Chief Financial Officer, voluntarily reduced his bonus by 35% or approximately $477,000.

"Even though Mr. Amos and Mr. Cloninger were entitled to their full operating bonuses -- and in 2008 Aflac outperformed the S&P 500, the S&P Life Index and the Dow -- the board agreed to accept their proposals," said Aflac Incorporated board member Robert B. "Ben" Johnson, chairman of the Compensation Committee. "We support their decision to voluntarily reduce their personal compensation as a demonstration of their commitment to our shareholders."

In 2008, Amos received a salary of $1.3 million and Cloninger received a salary of $857,700.

Additional discussion and analysis will be in the company's proxy statement.

About Aflac:

For more than 50 years, Aflac products have given policyholders the opportunity to direct cash where it is needed most when a life-interrupting medical event causes financial challenges. As the number one provider of guaranteed-renewable insurance in the United States and the number one insurance company in terms of individual insurance policies in force in Japan, Aflac insurance products provide protection to more than 40 million people worldwide. Aflac has been recognized by Ethisphere magazine as one of the World's
'/>"/>

SOURCE Aflac, Inc.
Copyright©2009 PR Newswire.
All rights reserved

0

GOOD

Page: 1 2

Related medicine news :

1. New Ads Provide Glimpse Into Unique Friendship Between Aflac Duck and Carl Edwards
2. Aflac Incorporated Provides Added Detail on Perpetual Debenture Holdings
3. Aflac Incorporated Announces Fourth Quarter Results, Sees 2008 RBC Ratio Above 450%, Affirms 2009 Operating EPS Target
4. Aflac Announces Additional Teleconference Webcast
5. Aflac Incorporated To Release Fourth Quarter Results on February 2, 2009
6. Aflac Agents and Employees Boost Bone Marrow Registry
7. Aflac Incorporated To Present at the Goldman Sachs U.S. Financial Services Conference 2008
8. Aflac Spokeswoman Inducted into PR News Hall of Fame
9. Aflac Duck Gives Back
10. Aflac Cancer Center and Blood Disorders Service Unveils New Carl Edwards Triage Room
11. Aflac Celebrates With Petersons Harley Davidson of Miami as 100,000th Online Billing Customer
Post Your Comments:
*Name:
*Comment:
*Email: