Ruddick Corp. Shareholders OK Name Change

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Ruddick Corp. Shareholders OK Name Change


At Ruddick Corp.’s annual meeting of shareholders on Feb. 16, attendees approved an amendment to restated articles of incorporation authorizing the board of directors to change the name of the corporation to Harris Teeter Supermarkets Inc.

The name change reflects Charlotte, N.C.-based Ruddick’s core grocery business, particularly in the wake of its divestment of American & Efird Inc., its former textile and sewing thread subsidiary, to focus exclusively on the Harris Teeter chain, which operates 204 stores in the Southeast.

The shareholders’ approval of the amendment enables the board to change the company name at any time or to abandon the idea altogether. So far, the board has not put through the name change.

Other business carried out at the meeting included the re-election of the current 10 board directors to serve until the next annual meeting of Shareholders or until successors are elected, the approval of an advisory (non-binding) “Say on Pay” vote allowing the compensation of the company’s named executive officers, and the ratification of the appointment of New York-based KPMG LLP as the company’s independent registered public accounting firm for the fiscal year ending Sept. 30, 2012.