Weis Markets, Inc Receives a Shareholder Proposal from California State Teachers’ Retirement System
March 09, 2023 at 02:09 pm EST
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On March 9, 2023, Weis Markets, Inc announced that it has received a shareholder proposal from California State Teachers' Retirement System requesting the Company Board to prepare a report by December 31, 2023, at reasonable expense and omitting proprietary information, on steps the Company, is taking to foster greater diversity on the Board including but not limited to: 1. Strengthening Nominating and Corporate Governance policies/Charter by embedding a commitment to diversity inclusive of gender, race, and ethnicity; 2. Committing to include gender, race, ethnicity and historically underrepresented groups in every pool from which Board nominees are chosen; 3. Expanding director searches to include nominees from both corporate positions beyond the executive suite and non-traditional environments including government, academia, and nonprofit organizations; and 4. Reporting on progress and challenges experienced. In addition, the Company urged the shareholders to vote against the shareholder proposal at its annual general meeting scheduled to be held on April 27, 2023.
Weis Markets, Inc. is principally engaged in the retail sale of food in Pennsylvania and surrounding states. The Companyâs retail food stores sell groceries, dairy products, frozen foods, meats, seafood, fresh produce, floral, pharmacy services, deli products, prepared foods, bakery products, beer and wine, fuel and general merchandise items, such as health and beauty care and household products. The store product selection includes national, local and private brands, including natural, gluten-free and organic varieties. It advertises its products and promotes its brand through digital and printed circulars; television ads; radio ads; e-mail blasts, and on-line via its Website, social media and mobile applications. The Loyalty program includes reward points that may be redeemed for discounts on items in store, at the Companyâs fuel stations or at one of its third-party fuel station partners. It owns and operates 197 retail food stores, many of which have online order customer service.
WEIS MARKETS, INC. 
