And shareholders also want company to take a closer look at gender, race pay gaps.
Kroger held its annual meeting with shareholders this week and covered a variety of topics ranging from an update on the merger to gender and race pay gaps, reported the Cincinnati Business Courier.
Merger update
Kroger CEO Rodney McMullen said there were no new developments in the potential $24.6 billion deal with Albertsons, but did tell shareholders the merger will create meaningful, measurable benefits for customers, associates, and the communities involved.
He also said Kroger plans on investing $500 million to lower prices and invest in employees when the merger is approved. He said the company is also committed to invest $1 billion in worker pay raises and improved benefits.
Race and gender pay gap
Shareholders passed one out of five measures at the annual meeting, but that one measure could be an impactful one. Fifty-one percent of shareholders approved a proposal asking the grocer to report on median and adjusted pay gaps by race and gender.
Thirty-year Kroger QFC veteran Sam Dancy was the one who presented the proposal and said he has been the victim of racism at the company. He said he believes he was passed on a promotion that was given to someone else of a different race with less experience and was also called a racial slur. McMullen said that kind of behavior was unacceptable.
Fresh program
Kroger also plans on introducing its End-to-End Fresh program to more stores in the coming months. Sales continue to increase thanks to continued improvements in the supply chain, among other factors.
Zero hunger, zero wastes
Kroger also announced during the shareholder meeting it will donate 10 billion meals by 2030 as part of the company’s Zero Hunger | Zero Waste program once the merger is official.
View Original Article
