March 15, 2011: UPS CEO Scott Davis made $10.7 million last year, a 72 percent hike over his total compensation for 2009.
Davis’s pay has quadrupled since 2007. Over the same period, the Hoffa administration has given Davis record givebacks at the bargaining table.
UPS paid Davis $1 million in base salary plus a $232,000 cash bonus. Most of the rest of Davis’s compensation was $7.8 million in stock awards. The estimated value of Davis’s pension grew by $1.2 million. Davis got another $437,514 in option awards.
All these figures come from a proxy statement filed by UPS with the Securities and Exchange Commission.
In their SEC filing, UPS said the pay hike for Davis "reflects a long-running and deliberate effort" to boost the compensation of its top three executives.
Time To Stand Up to UPS
The massive pay hikes show that UPS top execs look out for their interests. Our union needs to do a better job of protecting members’ interests.
More aggressive enforcement of our contract—including protection from production harassment, excessive overtime, supervisors working, 22.3 full-time job elimination, clerk layoffs, and the loss of package jobs through UPS Basic.
UPS made $5.8 billion in profit after taxes last year. If the company can find the money to massively increase executive pay, they can find the money to respect our contract and keep members working—without working us to death.
If you agree, join Teamsters for a Democratic Union. TDU and Make UPS Deliver are the number one source of independent information for UPS Teamsters. We work together to enforce our contract and rebuild our union’s power at UPS.
Click here to Join TDU. That’s forty bucks well spent. Membership includes a subscription to our newspaper Teamster Voice.