PHILADELPHIA – Today, Aramark (NYSE:ARMK), a leader in food, facilities, and uniform services with a market capitalization of $10.3 billion, announced the results of its annual shareholder meeting, where key decisions were made regarding the election of directors and executive compensation. According to InvestingPro analysis, the company maintains a GOOD financial health score and has consistently paid dividends for 11 consecutive years.
The meeting, which took place on January 24, 2025, saw shareholders cast their votes on various matters as outlined in the company's proxy statement from December 12, 2024. All 11 director nominees were elected to the Board to serve until the 2026 Annual Meeting, or until their successors are duly elected and qualified.
The directors, including Susan M. Cameron, Greg Creed, and John J. Zillmer, received significant support, with votes for each director ranging from 240,089,723 to 244,266,833. The strong shareholder participation comes as Aramark trades at a P/E ratio of 39.2, with InvestingPro data showing additional insights available in their comprehensive Pro Research Report.
Additionally, shareholders ratified the appointment of Deloitte & Touche LLP as Aramark's independent registered public accounting firm for the fiscal year ending October 3, 2025. The decision was nearly unanimous, with 249,519,788 votes in favor.
Another key item on the agenda was the approval, on a non-binding advisory basis, of the compensation of the company's named executive officers. The proposal passed with 236,771,558 votes for, 7,618,798 against, and 81,063 abstentions.
In other recent news, Aramark announced the full redemption of its outstanding 2025 Senior Notes, a significant financial move contingent on securing new debt financing. The company also reported a successful completion of syndication for new term loans due June 2030. Analysts from Baird and Truist Securities have updated their outlook on Aramark, raising their stock price targets to $45.00 and $46.00, respectively.
Aramark's fiscal 2024 results revealed a 10% year-over-year organic revenue growth, reaching a total revenue of $17.4 billion for the fiscal year. The company also announced a new $500 million share repurchase program. In addition, Aramark expanded its board of directors, appointing Richard Dreiling, a seasoned executive with extensive leadership experience.
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