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Teamsters union seeks to oust smith as fedex chairman

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09.15.2008

Cybergal

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Teamsters union seeks to oust smith as fedex chairman

TEAMSTERS UNION SEEKS TO OUST SMITH AS FEDEX CHAIRMAN
9/15/08

Quote:

The International Brotherhood of Teamsters is asking FedEx shareholders to support the union’s proposal for an independent board chairman at the company’s annual meeting on Sept. 29.
Last year, a similar petition gathered the support of 27 percent of investors at the meeting.
In a letter to shareholders, the Teamsters general secretary-treasurer, C. Thomas Keegel, said that Frederick W. Smith’s dual role as chairman and chief executive prevents independent oversight of management. Keegel complained of poor corporate performance and the legal challenges of the independent contractor business model at FedEx Ground.

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