United Parcel Service, Inc. Class B - UPS STOCK NEWS

UPS has elected Eva Boratto, Chief Financial Officer of CVS Health, and Wayne Hewett, former CEO of Klöckner Pentaplast Group, to its Board of Directors. This move aims to enhance the board’s expertise and support UPS’s strategic growth initiatives. Boratto brings extensive financial and strategic planning experience, while Hewett contributes his background in supply chain and operations. These appointments align with UPS's commitment to diversity and inclusion, increasing the board's membership to fifteen.

UPS announced plans to hire over 100,000 seasonal employees from October 2020 through January 2021 to manage increased package volume during the holiday season. The company highlighted that more than a third of past seasonal hires transitioned into permanent positions. With flexible shifts and roles available, UPS aims to provide employment opportunities for those affected by COVID-19. Additionally, eligible temporary workers can earn tuition assistance through the Earn and Learn program, further bolstering UPS's commitment to employee development.

Coyote Logistics, a leading global 3PL provider, announces the launch of the Coyote Collective, an industry forum aimed at tackling complex supply chain challenges. This initiative will kick off during the Coyote Logistics Digital Summit on September 30 - October 1, 2020, featuring over 25 sessions focused on various supply chain topics. Keynotes include industry leaders from UPS and Coyote. The summit aims to connect professionals and facilitate collaboration, promoting innovation within the supply chain sector.

UPS has appointed Nando Cesarone as President of U.S. Operations and Scott Price as President of UPS International. Cesarone, formerly President UPS International, will leverage his global experience to enhance cross-border services for U.S. customers. He succeeds George Willis, who has retired after 36 years at the company. Price's extensive background in strategic planning and international operations aims to capitalize on profitable growth opportunities. Both leaders are expected to drive shareholder value and strengthen UPS's market position.

On August 12, 2020, UPS announced a quarterly dividend of $1.01 per share on outstanding Class A and B shares. This dividend is payable on September 9, 2020, to shareholders of record by August 24, 2020. UPS's commitment to dividends is highlighted by its history of maintaining or increasing dividends over the last 50 years, with the dividend amount over quadrupling in the past two decades. This reflects UPS's financial strength and dedication to shareholder value.

UPS has announced the promotion of Laura Lane to Chief Corporate Affairs and Communications Officer, joining the Executive Leadership Team and reporting to CEO Carol Tomé. This new role will enhance the alignment of external affairs, including public policy, communications, and community relations. Lane, who has been with UPS since 2011, has a notable history of advocating for tax reforms, infrastructure investment, and sustainable practices. Her extensive background includes working in both public and private sectors, demonstrating a strong capability in advancing UPS's reputation and operational goals.

UPS will announce its 2020 second-quarter results on Thursday, July 30, 2020, at approximately 6:00 a.m. Eastern Time. Following the announcement, CEO Carol Tomé and CFO Brian Newman will host an investor conference call at 8:30 a.m. ET. This call will be accessible to the public via a live webcast. The audio will be available on the Investor Relations website for a limited period after the call.

Coyote Logistics has expanded its Dynamic Route Optimization program to enhance supply chain efficiency and reduce uncertainty for carriers. The program generates weekly route plans, considering various parameters like drivers’ schedules and load attributes. This initiative aims to provide carriers with consistent weekly miles, ranging from 2,100 to 2,700, even during market volatility. Coyote’s approach, praised by clients for improving reliability, helps carriers focus on fleet growth while mitigating carbon footprints. The program aims to streamline operations, drive efficiency, and ensure dependable service for shippers and drivers alike.

On July 9, 2020, Yotpo announced its partnership with UPS through the Customer Technology Program (CTP), aimed at enhancing eCommerce capabilities for small and medium-sized businesses (SMBs). This collaboration grants SMBs access to advanced marketing solutions including ratings and reviews, visual content marketing, and customer insights, at discounted rates. Yotpo's technology supports customer advocacy and growth, complementing UPS's shipping services. The partnership aims to empower SMBs to compete effectively against larger brands.