0000101063-14-000059.txt : 20140514 0000101063-14-000059.hdr.sgml : 20140514 20140514160257 ACCESSION NUMBER: 0000101063-14-000059 CONFORMED SUBMISSION TYPE: DEFA14A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20140514 DATE AS OF CHANGE: 20140514 EFFECTIVENESS DATE: 20140514 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CHIQUITA BRANDS INTERNATIONAL INC CENTRAL INDEX KEY: 0000101063 STANDARD INDUSTRIAL CLASSIFICATION: AGRICULTURE PRODUCTION - CROPS [0100] IRS NUMBER: 041923360 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-01550 FILM NUMBER: 14841467 BUSINESS ADDRESS: STREET 1: 550 SOUTH CALDWELL STREET CITY: CHALOTTE STATE: NC ZIP: 28202 BUSINESS PHONE: 9806365000 MAIL ADDRESS: STREET 1: CHIQUITA BRANDS INTERNATIONAL, INC. STREET 2: 550 SOUTH CALDWELL STREET CITY: CHARLOTTE STATE: NC ZIP: 28202 FORMER COMPANY: FORMER CONFORMED NAME: UNITED BRANDS CO DATE OF NAME CHANGE: 19900403 DEFA14A 1 schedule14aadditionalmater.htm DEFA14A Schedule14AAdditionalMaterials

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A INFORMATION
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Chiquita Brands
550 South Caldwell Street
Charlotte, North Carolina 28202
www.chiquita.com
May 14, 2014

Dear Fellow Shareholders,

We are writing to you on behalf of the Board of Directors of Chiquita Brands International, Inc. in connection with the annual meeting scheduled for May 22, 2014.

The Chiquita Board of Directors recommends that you vote AGAINST the shareholder proposal asking us to adopt a “hold until retirement” equity compensation policy. As described in greater detail in our proxy statement:

We believe our long-standing and rigorous share ownership requirements already align our executives with long-term shareholder interests.
CEO – 5 times base salary (or $4.5 million), and
Other executive officers – 3 times base salary (average of approximately $1.4 million)

To further align the interests of our executives and our long-term shareholders, over 50% of our executives’ total direct compensation is equity-based. The Chiquita Board believes that combining this compensation practice with a “hold until retirement” policy would hinder our ability to attract and retain executive talent, to the detriment of our shareholders.

The Chiquita Board and the Compensation & Organization Development Committee remain fully committed to requiring pay-for-performance, to focusing on long-term results and sustainability and to continuing our engagement with major shareholders. For the reasons described above and in our proxy statement, the Board recommends a vote AGAINST the shareholder proposal.

On behalf of the Chiquita Board of Directors, thank you for your continued support.

/s/Kerrii B. Anderson            /s/Edward F. Lonergan
Kerrii B. Anderson            Edward F. Lonergan
Chairwoman of the Board        President and Chief executive Officer


Your Board of Directors recommends that shareholders vote FOR each of the nominees listed in Proposal 1, FOR Proposals 2, 3 and 4 and AGAINST Proposal 5.

If you have any questions or need assistance voting, please contact our proxy solicitor, Alliance Advisors at 973-873-7700 Attn: Domenick DeRobertis.


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