Kroger Co. shareholders rejected five shareholder-sponsored proposals -- all opposed by the board of directors -- at the company's annual meeting Thursday in Cincinnati.
Three of the proposals received support of between 38 and 40 percent of the votes cast, but none got the necessary majority for adoption. Respectively, they called for the company to develop a comprehensive policy addressing climate change, to report on its policies on toxic chemicals and other product safety issues, and to establish a specific pay-for-performance executive compensation plan.
The other two proposals -- one to give purchasing preference to poultry suppliers who use "controlled atmospheric killing" and another to phase out the sale of eggs from hens who are confined to small cages - each was favored by less than 5 percent of the votes cast.
Kroger Chairman and CEO David Dillon that the company was already following or moving toward many of the policies promoted by the proposals but that the company disagreed with the methods proposed.
Nicely done. They don't need to waste company funds, and thereby increase prices, chasing after some stupid politically correct global warming policy (not to mention the other silly ideas that were proposed).
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