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
/CONTACT: For Analysts and Investors, Kenneth S. Janke Jr.,
+1-800-235-2667 - option 3, +1-706-324-6330 (fax), or email@example.com, or For
Media, Laura Kane, +1-706-596-3493, or +1-706-320-2288 (fax), or
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/Web site: http://www.aflac.com/
IN: INS HEA FIN
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7268 02/14/2007 07:24 EST http://www.prnewswire.com