UPS Inc. shareholders elected a board of directors for a one-year term Thursday at the company's annual meeting.

Shareholders gathered in Wilmington, Del., also ratified the appointment of Deloitte & Touche LLP as the company's independent registered public accountants and approved an incentive compensation plan that authorizes the board to administer bonus plans using stock, options, restricted stock units and other cash awards.

Ten directors stood for election to the board, and all received more than enough votes to earn a one-year term.

Bill Johnson, the chairman, president and CEO of the H.J. Heinz Co., was elected to replace Ben Verwayaan, the CEO of Paris-based Alcatel-Lucent who earlier had announced he would not run for re-election. Verwayaan had served as a director since March 2005.

UPS, also known as United Parcel Service, is the world's largest shipping carrier.