Roots (TSE:ROOT) shareholders elected the company’s full slate of director nominees and reappointed KPMG LLP as auditor at the retailer’s Fiscal 2025 Annual Meeting of Shareholders, according to remarks made during the virtual meeting.
Chairman of the Board Erol Uzumeri formally opened the meeting and said a quorum was present. He reported that, of approximately 39.2 million issued and outstanding shares, about 27 million shares, or 68.8%, were represented at the meeting.
Director nominees elected
Uzumeri introduced the nine director nominees standing for election: Scott Cameron, Phil Bacal, Mary Ann Curran, Greg David, Edward Kernaghan, Dale Lastman, Dexter Peart, Meghan Roach and Uzumeri. He said all nine nominees were current members of the board and had consented to stand for election.
Uzumeri noted that Roots shareholders vote for directors individually rather than as a slate. Based on proxies received ahead of the meeting, he said each director nominee had received votes in favor from at least 99.9% of votes cast.
No additional director nominations were received ahead of the deadline, Uzumeri said. Because the election was uncontested, he said majority voting requirements under the Canada Business Corporations Act applied, meaning each nominee needed to receive more votes in favor than against to be elected.
After electronic voting was conducted during the meeting, Uzumeri said the scrutineer’s preliminary vote showed that each proposed director nominee had been duly elected to serve until the next annual meeting of shareholders, or until they resign or their successors are elected or appointed.
KPMG reappointed as auditor
Shareholders also approved the reappointment of KPMG LLP, Chartered Professional Accountants, as Roots’ auditor until the next annual meeting of shareholders. The motion also authorized the board of directors to fix the auditor’s remuneration.
Uzumeri said the audit committee had approved the reappointment, subject to shareholder confirmation. Following the vote, he said the preliminary results showed KPMG had been reappointed and the board had been authorized to set the auditors’ pay.
No shareholder questions submitted
Kaleb Honsberger, Roots’ general counsel and secretary of the meeting, said no shareholder questions had been submitted regarding the director election motion or the auditor reappointment motion.
The meeting began with a reminder from the operator that some statements could contain forward-looking information subject to risks and uncertainties, and that listeners should refer to Roots’ financial reports and public documents for related cautionary statements.
With no further business before shareholders, Uzumeri declared the meeting terminated.
About Roots (TSE:ROOT)
Established in 1973, Roots is a global lifestyle brand. Starting from a small cabin in northern Canada, Roots has become a global brand which, as at the end of Q1 2026, operated 96 corporate retail stores and 11 short-term pop-up locations in Canada, two corporate retail stores in the United States, and an eCommerce platform, roots.com. We have more than 100 partner-operated stores in Asia, and we also operate a dedicated Roots-branded storefront on Tmall.com in China. We design, market, and sell a broad selection of products in different departments, including women’s men’s, children’s, and gender-free apparel, leather goods, footwear, and accessories.
