Kroger 2015 Annual Report Download - page 12
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10
Kroger’s Corporate Governance Practices
Kroger is committed to strong corporate governance. We believe that strong governance builds
trust and promotes the long-term interests of our shareholders. Highlights of our corporate governance
practices include the following:
3 All director nominees are independent, except for the CEO.
3 All five Board Committees are fully independent.
3 Annual election of all directors.
3 All directors are elected with a simple majority standard for all uncontested director elections, with
cumulative voting available in contested director elections.
3 Commitment to Board refreshment and diversity.
3 Regular engagement with shareholders to understand their perspectives and concerns.
3 Regular executive sessions of the independent directors, at board and committee level.
3 Strong independent lead director with clearly defined roles and responsibilities.
3 Annual Board and Committee self-assessments.
3 Annual evaluation of the Chairman and CEO by the independent directors.
3 High degree of Board interaction with management to ensure successful oversight and
succession planning.
3 Stock ownership guidelines align executive and director interests with those of shareholders.
3 Prohibition on all hedging, short sales and pledging.
3 No poison pill (shareholder rights plan).
3 Shareholders have the right to call a special meeting.
3 Robust code of ethics.
3 Strong Board oversight of enterprise risk.