Overwhelmingly Endorse Performance-Based Compensation
COLUMBUS, Ga., May 6 /PRNewswire/ -- In a historic vote yesterday, the shareholders of Aflac Incorporated overwhelmingly approved the company's pay-for-performance compensation policies and procedures. 93% of votes were cast in favor with only 2.5% against Aflac's compensation practices in a vote commonly referred to as "Say-on-Pay."
In March 2008, Aflac Incorporated's board of directors released the proxy statement language that formally invited shareholders to vote on the company's performance-based compensation policies. This action marked the first time shareholders were empowered to vote on executive compensation for an American public company.
"At Aflac we have long believed in performance-based compensation for all of our employees," said Daniel P. Amos, Aflac Chairman and CEO. "I am proud that Aflac's long history of transparency and strong shareholder returns are appreciated by our owners."
From August 1990, when Mr. Amos became CEO of Aflac Incorporated, through the end of 2007, the company's total return to shareholders, including reinvested cash dividends, has exceeded 3,867%, compared with 694% for the Dow Jones Industrial Average and 583% for the S&P 500. During the same period, the company's market value has grown from $1.2 billion to more than $30 billion, with total revenues growing from $2.7 billion in 1990 to $15.4 billion in 2007.
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. Aflac is 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. Our insurance products provide protection to more than 40 million
people worldwide. Aflac has been included in Fortune magazine's listing of
America's Most Admired Companies for seven years and in Fortune magazine's
list of the 100 Best Companies to Work For in America for ten consecutive
years. Aflac has also been recognized three times by both Fortune
magazine's listing of the Top 50 Employers for Minorities and Working
Mother magazine's listing of the 100 Best Companies for Working Mothers.
Aflac Incorporated is a Fortune 500 company listed on the New York Stock
Exchange under the symbol AFL. To find out more about Aflac, visit
(Logo: http://www.newscom.com/cgi-bin/prnh/20041202/CLTH019LOGO )
Media Contacts: Analyst and Investment Contact:
Laura Kane Kenneth S. Janke Jr.
Aflac Incorporated Aflac Incorporated
706.596.3493 1.800.235.2667, Option 3; Fax: 706.324.6330
|SOURCE Aflac Incorporated|
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