Kroger shareholders urge grocery chain: Disclose pay by gender and race

In this article:

Kroger shareholders on Thursday approved a nonbinding measure asking the grocer to disclose median pay of workers by race and gender.

Pitched by Manchester, Massachusetts-based investment firm Arjuna Capital, the proposal won the approval of 51% of Kroger shareholders at the company's annual meeting, which was conducted virtually online. The investment group said such disclosures by companies would help America close pay gaps, noting its own research found Black workers in the U.S. earn 64% of what white workers are paid and women earn 83% of what men are paid.

“Actively managing pay equity is associated with improved representation. Diversity in leadership is linked to superior stock performance,” the boutique investment firm said in the proxy measure before shareholders.

After the vote, Kroger said it will take a closer look at the proposal.

“We would like to thank our shareholders for their engagement and feedback during this proxy season. The board will review final voting results and make further disclosures as appropriate,” the company said in a statement.

Major corporations frequently field nonbinding shareholder measures on good governance, disclosure and even social issues each year.

A Kroger grocery store logo at a store in Flowood, Miss.
A Kroger grocery store logo at a store in Flowood, Miss.

Most often they fail, such as three other shareholder measures Kroger stockholders voted down on Thursday, including proposals to protect conservative employees from "viewpoint" discrimination, additional disclosures of charitable giving as well as separate reports estimating the company's liability for plastic packaging and selling tobacco products.

In addition to Kroger stores, the Cincinnati-based grocer operates several regional supermarket chains in 35 states, including Fred Meyer, Harris Teeter, Ralphs, Mariano's, Fry's, Smith's, King Soopers, QFC and others. The company has more than 2,700 stores and employs 430,000 workers.

This article originally appeared on Cincinnati Enquirer: Kroger is latest business urged to disclose pay by gender and race

Advertisement