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
kjanke@aflac.com
Media contact - Laura Kane, 706.596.3493, FAX: 706.320.2288, or
lkane@aflac.com
SOURCE Aflac
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Related links:
http://www.aflac.com/
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20041202/CLTH019LOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
For Analysts and Investors, Kenneth S. Janke
Jr., +1-800-235-2667 - option 3, +1-706-324-6330 (fax), or
kjanke@aflac.com, or For Media, Laura Kane, +1-706-596-3493, or
+1-706-320-2288 (fax), or lkane@aflac.com
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