Roots shareholders elect full board, reappoint KPMG at annual meeting

MarketBeat | Tue, July 21, 2026 at 8:07 AM PDT | 4 min read

• ROOT.NE: 0.00%
• ROOT.TO: -1.74%

Key Points

• Roots shareholders elected the company's full board of nine directors at its Fiscal 2025 Annual Meeting, with preliminary results showing each nominee received overwhelming support and was elected to serve until the next annual meeting.
• KPMG LLP was reappointed as Roots' auditor until the next annual meeting, and shareholders also authorized the board to set auditor remuneration.
• The meeting was largely routine, with approximately 68.8% of outstanding shares represented and no shareholder questions submitted on the voting items.

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.

The meeting covered three formal items of business:

• Receipt of the company's consolidated financial statements for the 52-week period ended Jan. 31, 2026
• Election of directors
• Reappointment of the company's auditors, with authorization for the board to set auditor remuneration

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.