Tootsie Roll Shareholders Approve Board Members and Auditor

CHICAGO, IL – Tootsie Roll Industries Inc . (NYSE:TR) announced the approval of all proposed items during its Annual Meeting of Shareholders, which took place on May 5, 2025. The information, based on a recent SEC filing, highlighted the election of directors and the ratification of the company’s independent auditor.

The five nominees for the Board of Directors were elected to serve until the next annual meeting. The results for the election were as follows: Ellen R. Gordon received 330,904,310 votes for and 4,047,283 votes withheld; Virginia L. Gordon had 331,008,197 votes for and 3,943,396 votes withheld; Lana Jane Lewis-Brent obtained 329,300,095 votes for and 5,651,498 votes withheld; Michael A. Chodos had 334,750,706 votes for and 200,887 votes withheld; and Paula M. Wardynski received 330,976,057 votes for and 3,975,536 votes withheld. All candidates had 3,434,790 broker non-votes. The company has maintained its dividend payments for 55 consecutive years, demonstrating long-term stability in shareholder returns.

Additionally, the shareholders ratified the appointment of Grant Thornton LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. The decision was made with 333,624,818 votes for the motion and 4,634,815 against, with 126,750 abstentions and no broker non-votes.

The annual meeting’s proposals were described in detail in the definitive proxy statement previously filed with the SEC. The approval of the agenda items suggests shareholder confidence in the current management and strategic direction of the company.

The SEC filing, dated May 8, 2025, was signed by G. Howard Ember, Jr., Vice President Finance and Chief Financial Officer of Tootsie Roll Industries, Inc., indicating compliance with the regulatory requirements of the Securities Exchange Act of 1934. The company maintains strong financial metrics with a current ratio of 3.82 and minimal debt, as revealed by InvestingPro analysis. Discover more insights and 6 additional ProTips about Tootsie Roll’s financial performance with an InvestingPro subscription.

In other recent news, Tootsie Roll Industries has announced the implementation of a new Insider Trading Policy. This policy, effective as of March 21, 2025, is aimed at regulating the trading activities of the company’s directors, officers, employees, and certain family members and associates. The policy prohibits these individuals from buying or selling company securities based on material, nonpublic information and restricts them from sharing such information with unauthorized parties. Additionally, the policy requires Tootsie Roll’s directors, executive officers, and other designated personnel to seek pre-approval before engaging in transactions involving company securities. These measures reflect Tootsie Roll Industries’ commitment to compliance with securities laws and the promotion of fair trading practices. The details of the policy have been made available in the company’s recent Form 8-K filing with the Securities and Exchange Commission. This development underscores the company’s dedication to maintaining corporate governance integrity and investor trust.

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