Boston, MA // August 26, 2019
Trillium Asset Management has published a letter to shareholders of Lamb Weston Holdings, Inc.
(NYSE: LW) urging holders of record to vote in favor of a shareholder proposal on the company’s 2019 proxy ballot.
The shareholder proposal (Item #4 on the proxy) asks the company to disclose
at regular intervals, at reasonable expense and omitting proprietary or privileged information, available quantitative metrics on pesticide use in the company’s supply chain, and how pesticide use impacts pollinators.
Spun off from ConAgra foods in 2016, Lamb Weston is a global supplier of frozen potato, sweet potato, and vegetable products to restaurants and retailers. It’s leadership position in potato production and processing offer management a strong position of influence over growing standards and practices. Disclosure of pesticide use and risk management across its supply chain warrants specific attention by management, in our view, because conventionally-grown potatoes are among the most pesticide-intensive crops grown in the U.S.
Our rationale for voting “Yes” is based on the following key points:
- Pesticide use exposes Lamb Weston to reputational, financial and legal risk associated with known adverse impacts to human health, communities and pollinators,
- Several peers now reporting investor useful metrics on pesticide use as well as reduction strategies raise concerns of potential competitive disadvantage to the company.
Contact: Susan Baker, Trillium Asset Management, 617-532-6681, sbaker[at]trilliuminvest.com
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