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Group Advocates Publix IPO
LAKELAND, Fla. — A group of Publix Super Markets employees advocating that the employee-owned retailer go public has proposed a slate of write-in candidates for election to the retailer's board of directors.
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JON SPRINGER
LAKELAND, Fla. — A group of Publix Super Markets employees advocating that the employee-owned retailer go public has proposed a slate of write-in candidates for election to the retailer's board of directors.
"Employee shareholders have long-anticipated the Board either initiating an IPO or to explore other options that would allow employees to access the value of their ownership stake, but to no avail," the group, calling itself Publix Employee Shareholders United, said in a press release.
Employees own more than 85% of Publix through an employee stock ownership plan. Publix has already filed proxy materials, including its own slate of directors, for consideration at its annual meeting April 12. The alternative board candidates would have to be elected by write-in vote.
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