In an era of culture wars and polarized politics, the nation’s largest grocer is under attack from all sides.
Just look at five issues Cincinnati’s activist investors are putting to non-binding shareholder votes hooksduring his next annual meeting Thursday. (Hint: The company wants everyone to vote against it.)
How much does Kroger pay men, women and racial minorities?
Capital Arujna wants Kroger to disclose its median pay by race and gender, noting his own research finds Black workers in the US earn 64% of what white workers are paid, and women earn 83% of what men are paid, among other results.
“Active management of pay equity is associated with better representation. Leadership diversity is linked to superior stock performance,” the boutique investment firm said in the measure of representation before the shareholders.
Kroger officials responded that the move is not necessary because its “compensation practices promote diversity, inclusion and fair pay among our workforce.”
Protect the conservative viewpoint of workers against discrimination
Conservative group the National Center for Public Policy Research wants Kroger to issue a report on the potential risks of failing to protect against discrimination based on “viewpoint” and “ideology,” which are not protected under federal law.
“There is ample evidence that people with conservative views may face discrimination at Kroger,” the group said. to the proxy, noting that the retailer has pulled merchandise with pro-gun statements and other political statements, while also publishing an “alliance guide” for the treatment of LGBTQ people. The group cited news articles of “woke reaction” to Kroger from Fox News and other conservative outlets.
Kroger, which is one of the world’s largest employers with 430,000 employees, said it promotes diversity and inclusion and understands that “our associates have a wide range of viewpoints,” so this report is not necessary.
How bad is smoking for Kroger shareholders?
The Sisters of St. Francis of Philadelphia they want Kroger to commission a report revealing the public harm of the tobacco products it sells. quote Data from the Centers for Disease Control and Prevention estimate more than $600 billion in US economic costs of the effects of smoking.
“Kroger is undermining its commitments to promoting good health and, ultimately, the interests of its diversified shareholders,” the resolutions are read in the representation.
Kroger officials oppose the move, saying it follows existing laws and regulations “to limit the sale of these items to only customers who are legally permitted to purchase them” and “we also believe in freedom of choice of our customers”.
Can you tell us who Kroger is giving money to, again?
The Louis B & Diana R Eichold Trust wants Kroger to list charitable gifts of more than $10,000 on its website.
“It would be unfortunate if a charitable contribution resulted in lower employee morale and shareholder interest, let alone a loss of potential income,” the resolution says. “More complete disclosure would provide opportunities for improved feedback from which our company could make more beneficial decisions.”
Kroger officials say they already provide this information in their two foundations’ annual reports: The Kroger Co. Foundation i The Kroger Co. Zero Hunger | Zero Waste Foundation.
Between the two, the foundations direct more than $300 million (including partnership and client fundraising). More than 75% of corporate funds and customer donations go to the Feeding America– affiliated network of food banks, pantries and local agencies in the communities where the grocer operates.
Reduce the use of plastic packaging
Nonprofit Shareholder Advocate How to Sow wants Kroger to produce a report outlining how the company could reduce its use of plastics based on the findings of a Pew Charitable Trusts 2020 Report. In your proxythe group also wants Kroger to include its risk of financial liability if “governments require them to cover the waste management costs of the packaging they produce.”
Kroger, which has 33 production plants across the country and produces a third of its own brand products which generate a total of $30 billion in annual sales, said the report is unnecessary as it already plans to reduce its plastic packaging.
“Kroger has focused on improving the environmental attributes of product packaging for many years,” the company said, adding that last year it found that 40 percent of its house-brand product packaging met the its definition of recyclable, when measured by weight.
Watch the vote at the annual meeting:
Kroger’s annual meeting is virtual and will be held at 11 a.m. Thursday Shareholders of record will be able to vote and ask questions online during the meeting.
Stay up-to-date with the latest news on Kroger, P&G, Fifth Third Bank and Cincinnati @alexcoolidge on Twitter.
