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The Hillshire Brands Company Holds Annual Meeting Of Stockholders

Stocks in this article: HSH

At The Hillshire Brands Company’s (NYSE: HSH) annual meeting of stockholders, held today in Bloomingdale, Ill. management reviewed fiscal year 2012 business developments and discussed ongoing initiatives to strengthen its core brands, drive innovation, and reduce costs.

Also, the board of directors today declared a regular quarterly dividend of $0.125 per share on the company’s common stock. The dividend is payable on December 31, 2012 to stockholders of record at the close of business on December 3, 2012.

Finally, the company announced the preliminary results of voting, in which the stockholders:

  • Elected all eight incumbent directors and two new directors, Craig P. Omtvedt and James D. White, to serve one-year terms on the Hillshire Brands’ board of directors
  • Ratified the appointment of PricewaterhouseCoopers LLP as Hillshire Brands’ independent auditor for fiscal 2013
  • Approved an advisory stockholder vote on executive compensation
  • Approved the new 2012 Long-Term Incentive Stock Plan

Omtvedt, 63, served as senior vice president and chief financial officer of Fortune Brands, Inc. from 2000 to October 2011, and is a current advisor to Beam Inc., the successor to Fortune Brands. He also serves as a director of Oshkosh Corporation and General Cable Corp., and as a member of the Standard & Poor’s CFO Advisory Council.

White, 51, has been chairman of the Board of Directors, president and chief executive officer of Jamba, Inc. since December 2008. White previously served as senior vice president of Consumer Brands for Safeway, Inc. from 2005 to 2008. He has held positions in business development with Gillette Company and customer development with Nestlé Purina.

“I am pleased to welcome Craig Omtvedt and James White to the Hillshire Brands’ Board of Directors,” said Christopher Begley, chairman of the board, Hillshire Brands. “Craig brings exceptional consumer products know-how and financial expertise from his tenure at Fortune Brands. James provides unique experience in business and customer development from his roles at Jamba, Safeway and Gillette. I look forward to working with both, as I know they will each be a distinctive asset for the board.”

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