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Sara Lee holds annual meeting of stockholders

27
Oct '06

At Sara Lee Corporation's annual meeting of stockholders, held in Oakbrook Terrace, management shared the progress it has made to transform the company during the past 20 months, its opportunities for future growth and plans for returning value to stockholders.

During the meeting, stockholders ratified the appointment of PricewaterhouseCoopers LLP as Sara Lee's registered public accountants for fiscal 2007.

In addition, stockholders elected 11 incumbent Directors and one new nominee – Christopher B. Begley, Chief Executive Officer and a Director of Hospira Inc – to serve one-year terms on Sara Lee's Board of Directors.

Sara Lee also extended appreciation for the contributions made by retiring board members Richard L. Thomas and Charles W. Coker.

In other company business, stockholders presented two proposals for consideration.

Stockholders rejected a proposal requesting that Sara Lee appoint an independent Director as Chairman of the board, and stockholders rejected a proposal requesting that Sara Lee commit to seek an advisory stockholder vote on the Compensation Discussion and Analysis report that is included in the company's proxy statement.

Sara Lee Corporation

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