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Trillium News

Letter to Lamb Weston Shareholders: Vote Yes for Pesticide Use Disclosure

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:

  1. Pesticide use exposes Lamb Weston to reputational, financial and legal risk associated with known adverse impacts to human health, communities and pollinators,
  2. Several peers now reporting investor useful metrics on pesticide use as well as reduction strategies raise concerns of potential competitive disadvantage to the company.

Read the letter to shareholders.

Contact: Susan Baker, Trillium Asset Management, 617-532-6681, sbaker[at]trilliuminvest.com

 

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IMPORTANT NOTICE: The reviews expressed are those of the authors and Trillium Asset Management, LLC as of the date referenced and are subject to change at any time based on market or other conditions. These views are not intended to be a forecast of future events or a guarantee of future results. These views may not be relied upon as investment advice. The information provided in this material should not be considered a recommendation to buy or sell any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. To the extent specific securities are mentioned, they have been selected by the authors on an objective basis to illustrate views expressed in the commentary and do not represent all of the securities purchased, sold or recommended for advisory clients. The information contained herein has been prepared from sources believed reliable but is not guaranteed by us as to its timeliness or accuracy, and is not a complete summary or statement of all available data. This piece is for informational purposes and should not be construed as a research report.

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