Aflac Adopts Non-Binding 'Say On Pay' Shareholder Vote
February 14 2007 - 7:24AM
PR Newswire (US)
COLUMBUS, Ga., Feb. 14 /PRNewswire-FirstCall/ -- Aflac Incorporated
today announced that the board of directors has approved a
resolution giving shareholders a non-binding vote on executive
compensation. The board of directors set 2009 as the effective date
because it will be the first year that executive compensation
tables in the proxy statement will contain three years of data that
reflect the Securities and Exchange Commission's new disclosure
rules. "Our shareholders, as owners of the company, have the right
to know how executive compensation works," said Aflac Chairman and
CEO Dan Amos. "The board's action is in keeping with Aflac's
longstanding pay-for-performance compensation policy and our
commitment to transparency at all levels. "Our goal at Aflac has
always been to be responsive to our shareholders. By generating
strong earnings growth and consistently increasing cash dividends,
we have provided shareholders with an excellent return on their
investment over the long term. We have also followed best practices
in corporate governance and maintained a positive brand and image
for our company. We believe that providing an opportunity for an
advisory vote on our compensation report is a helpful avenue for
our shareholders to provide feedback on our pay-for-performance
compensation philosophy and pay package." Since Mr. Amos became
chief executive officer in August 1990, Aflac's total return to
shareholders, including reinvested cash dividends, has exceeded
2,770%, compared with 598% for the Dow Jones Industrial Average and
515% for the S&P 500. During the same period, the company's
market value has grown from $1.2 billion to $22.7 billion. Total
revenues have grown from $2.7 billion in 1990 to $14.6 billion in
2006. 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
six consecutive years and in Fortune magazine's list of the 100
Best Companies to Work For in America for nine 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 aflac.com. (Logo:
http://www.newscom.com/cgi-bin/prnh/20041202/CLTH019LOGO ) Analyst
and investor contact - Kenneth S. Janke Jr., 800.235.2667 - option
3, FAX: 706.324.6330, or Media contact - Laura Kane, 706.596.3493,
FAX: 706.320.2288, or
http://www.newscom.com/cgi-bin/prnh/20041202/CLTH019LOGO
http://photoarchive.ap.org/ DATASOURCE: Aflac CONTACT: For Analysts
and Investors, Kenneth S. Janke Jr., +1-800-235-2667 - option 3,
+1-706-324-6330 (fax), or , or For Media, Laura Kane,
+1-706-596-3493, or +1-706-320-2288 (fax), or Web site:
http://www.aflac.com/
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