The limits would apply to any severance arrangement, regardless of any change-in-control provision.
·Majority Voting – Kroger's board also adopted a policy requiring any director in an uncontested election who receives more “withheld” votes than “for” votes to tender his or her resignation.
The Corporate Governance Committee or the remainder of the board will be required to act on that resignation within 90 days.
Kroger's board also has asked the Corporate Governance Committee to study and recommend to the full board adoption of a policy requiring officers and directors to maintain certain levels of stock ownership.
Headquartered in Cincinnati, Ohio, Kroger is one of the nation's largest retail grocery chains. Kroger operated (either directly or through subsidiaries, franchise agreements, or operating agreements) 791 convenience stores, 431 fine jewelry stores, 559 supermarket fuel centers and 42 food-processing plants.
marketing@alchempro.com
