FOR RELEASE: April 28, 2001
|NAPM Media Relations|
|480/752-6276 ext. 3015|
(Tempe, AZ) - On April 28, 2001, NAPM members added a page to the association's rich history. For the first time, all members had the opportunity to express their opinions through a direct vote on four important issues: electronic transmission of proxies; authorization to amend the articles of incorporation and the Bylaws to change the association's name to Institute for Supply Management™; election of the NAPM Board of Directors; and to eliminate the permanent reserve fund requirements in the Bylaws.
Electronic Transmission of Proxies. The state of New York recently changed its rules for corporations to allow voting by electronic means. NAPM is incorporated in New York, and this change allows NAPM to use electronic means, such as Web voting. This amendment was approved by a large margin with 10,467 votes for, 487 votes against, and 229 abstaining.
Authorization to Amend the Articles of Incorporation and the Bylaws to Change the Association's Name to Institute for Supply Management™. In our rapidly changing profession, the word "purchasing" has begun to be less and less descriptive of what supply management professionals really do. They are increasingly responsible for ensuring a supply of goods and services necessary to meet their organization's strategic objectives. Many spend the majority of their time managing the supply base of goods and services as well as individual suppliers.
A variety of groups have spent the last three years discussing and researching whether or not to change the association's name, and, ultimately, what that new name should be. "Supply management" was selected because it will endure the test of time. "Institute" was selected because it implies an organization that is focused on research, education, and professional development. This amendment was also approved by a large margin with 7,322 votes for, 3,789 votes against, and 110 abstaining.
A transition plan to incorporate and publicize the name change will be implemented over the next several months.
Election of the NAPM Board of Directors. The NAPM Bylaws provide that the Nominating Committee provides a single slate of individuals to serve on the NAPM National Board. The Nominating Committee is pleased to have achieved its goal of recruiting leaders who come from diverse economic sectors, genders, and ethnic backgrounds, and who bring individual skills to leading our association. Many of the nominees are, or have been active members at all levels of the association. The NAPM Board of Directors is as follows:
S. Tyrone (Ty) Alexander, Senior Vice President, Human Resources and Administrative Services, Highmark Inc.
Richard V. Bradshaw, C.P.M., A.P.P., Director of Purchasing, Boston University Medical Campus
Christine S. Breves, C.P.M., Vice President, Procurement, Alcoa Business Support Services
Alex Brown, Vice President of Corporate Supply Management, Advanced Micro Devices, Inc. (AMD)
Barron H. Harvey, Ph.D., CPA, Dean, Howard University School of Business
Barbara Lang, Vice President and Chief Procurement Officer for Corporate Services, Fannie Mae
Theresa Metty, Corporate Vice President and Director, Worldwide Supply Chain Operations, Motorola Personal Communications Sector
R. David Nelson, C.P.M., Vice President, Worldwide Supply Management, Deere & Company, Inc.
G. Ken Newton, Jr., Vice President, Procurement and Logistics, Texas Instruments, Inc. Page 3 NAPM Bylaw Vote
Anthony S. Nieves, C.P.M., CFPM, Senior Vice President of Purchasing, Hilton Hotels Corporation, General Manager, Hilton Supply Management
Steven Sims, Vice President, Programs and Field Operations, National Minority Supplier Development Council (NMSDC)
Thomas Slaight, Vice President, A.T. Kearney
The nominees were approved with 10,001 votes for and 1,010 abstaining.
Proposal to Amend the Bylaws Regarding the Elimination of the Permanent Reserve Fund. Previously, an amount equal to 25 percent of the prior year's expenditures had to be permanently reserved and invested in 100 percent U.S. government-backed securities. The NAPM Board of Directors believed that it could and should assume responsibility for these reserve funds. In addition, these funds can earn 25 percent more income if carefully invested in high-quality corporate bonds.
It is part of the NAPM Board of Directors' fiduciary responsibility to prudently plan for the needs of the association. Under the revised reserve fund policy the Institute for Supply Management™ Board of Directors will maintain a reserve fund in an amount in accordance with the best interest of the association. The reserve will ensure adequate funds to cover contingencies while maintaining a reasonable return on those funds. The proposal was approved with 8,545 votes for 1,743 votes against, and 862 abstaining.
The National Association of Purchasing Management is the largest supply management organization dedicated to research and education in the United States. NAPM is comprised of more than 47,000 members.