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UPS names IBM executive to board of directors

ATLANTA (AP) -- United Parcel Service Co. said Friday that it added an IBM executive to its board, which expanded to 13 members.

Rodney C. Adkins, IBM's senior vice president of corporate strategy, joined the board effective immediately and will serve on the audit committee.

UPS said Adkins, 54, would stand for election to a regular one-year term at the package-delivery company's annual meeting in May.

In 2012, UPS non-employee directors received an annual cash retainer of $90,000. They also received an annual restricted stock unit grant of $150,000, which they are required to hold until they leave the board, when the units are paid in Class A common stock shares.

Shares of UPS gained a penny to $87.10 in late morning trading.