Nash Finch Company (Nasdaq: NAFC), a Minneapolis-based food retailer and distributor, yesterday announced voting results from its annual meeting of shareholders. Four incumbent directors were elected to serve for additional terms and two proposals regarding benefit and compensation plans were approved.
James Donald, chairman of the board, president, and chief executive officer of Pathmark Stores, Inc., was elected for a two-year term. Allister P. Graham, retired chairman and chief executive officer of The Oshawa Group Limited, Ron Marshall, president and chief executive officer of Nash Finch Company, and Laura Stein, senior vice president and general counsel of H.J. Heinz Company, were each elected for three year terms. Mr. Graham was also re-elected as the board chair of the Nash Finch Company board of directors.
Shareholders overwhelmingly approved the directors’ election, with each receiving no less than 98.7% of the shareholder vote. The Nash Finch board of directors consists of 11 members.
In other actions, shareholders approved two proposals regarding the issuance of company stock for compensation and benefits plans. The first proposal amended the company’s Employee Stock Purchase Plan to increase the number of shares reserved for issuance. The second proposal increased the number of shares reserved for issuance under the Non-Employee Director Stock Compensation Plan.
Nash Finch Company is one of the leading food distribution companies in the United States with over $4 billion in annual revenues. The company owns and operates a base of 98 retail stores, principally supermarkets under the Econofoods, Sun Mart and Family Thrift Center trade names. Independent retailers and military commissaries in approximately 30 states and Europe are key customers of Nash Finch’s food distribution business. Further information is available on the company’s website at http://www.nashfinch.com
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